Feds question using eminent domain to help ownersPosted by Larry Jensen on Friday, August 10th, 2012 at 7:56pm.
WASHINGTON – Aug. 9, 2012 – The Federal Housing Finance Agency (FHFA) has put a Notice in the Federal Register voicing concern for a new tactic being considered to help underwater homeowners – the use of eminent domain to restructure performing home loans. FHFA is inviting public input as it studies the tactic.
Now while some may balk at this and others may scream, Eminent Domain has often been used to help developers take over large tracks of land (not awalys vacant) to help "clean up" an area and redevelop it. So if its good for them, why not homeowners.
So take a read and then tell us what you think by commenting below.
Lawrence "Larry" Jensen, Principal Broker ~ NY & CT
St. Lawrence Properties, LLC
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