Governments Seizing Underwater Mortgages Through Eminent Domain?

By
Real Estate Agent with SeattleHome.com -Coldwell Banker Danforth

I wrote a piece recently on the issue of city governments planning to start seizing underwater mortgages.  This is a misguided attempt at helping homeowners, but we all know how well politicians do with real estate policy when they don't consult real estate professionals first.

You can read the full explanation of the process here:

Eminent Domain Seizure of Underwater Mortgages - How it Works (and Why it Won't)

For a quick explanation, this graphic gives a good synopsis of the process:

Underwater mortgages - Eminent Domain

Comments (2)

Kathy Stoltman
Balboa Real Estate - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Sam, what a thorough explanation of this confusing topic.  I think this will help many folks understand this process. 

Oct 10, 2013 01:12 AM
Sam DeBord
SeattleHome.com -Coldwell Banker Danforth - Seattle, WA
Seattle Real Estate Broker

Thank you, Kathy.  It is a messy topic, glad you liked it.

Oct 10, 2013 01:21 AM