Saturday, July 7, 2012

SoCal's IE Proposes Eminent Domain to Stop Foreclosure

A Southern California municipality has come up with what some real estate analysts are calling an extreme idea to curb the flow of foreclosures.
San Bernardino County is proposing a Homeownership Protection Program that would utilize eminent domain to seize mortgages and restructure them for underwater homeowners.
But the program has its critics.
Pacifica KPFK’s Ernesto Arce has more from the Inland Empire.