Bill Attacks Eminent-Domain Usage

21 Sep 2012

Rep. John Campbell (R-Calif.) has introduced legislations that would bar communities from accessing government-backed loans if they use eminent-domain to seize mortgages.

Rep. John Campbell (R-Calif.) has introduced legislations that would bar communities from accessing government-backed loans if they use eminent-domain to seize mortgages. The banking industry has expressed concern that using eminent domain could result in heavy losses to Fannie Mae, Freddie Mac and other holders of private-label mortgage-backed ...

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