Well, it’s the beginning of a new year, and this a good time to tell you the state of the proposed use of eminent domain to acquire underwater mortgages. While no local government has actually begun condemnation proceedings to acquire underwater mortgages, a few things have changed since our last update in October. Additional
Update: Condemnation of Underwater Mortgages
Wow! A lot has happened on this topic since our July 29, 2013 post! The developments over the last six weeks are significant because one city (Richmond, California) may be close to making a decision whether to use eminent domain to acquire underwater mortgages, while another (North Las Vegas, Nevada) has decided it will not