San Bernardino County Eminent Domain seizing mortgages – not good policy.

San Bernardino County California has a new policy where they will begin to seize mortgages under eminent domain rules. The intent is that they want to reduce the mortgages of people in San Bernardino County and remove all the negative equity. There are lots of problems with this, including that it may be unconstitutional. This also may end up harming the borrowers in the long run instead of helping with their real estate problems. This is not a good policy and Todd explains the reasons.

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