New half baked idea by govt to “solve” housing problems. San Bernadino county wants to seize underwater mortgages by eminent domain, modify them so homeowners can stay in their house.
I am totally opposed to this. I had a property I owned seized by eminent domain because the city wanted the land to build a cty building. I had no say and the price they gave me was a joke.
What do you think that will do to banks who are thinking of lending in SB cty? How about years of court challenge?
This does not apply to fha mtg or people who are non-current.
Read the story if you have an empty stomach.
