Friday, June 8, 2012

Exclusive: Investors tout controversial "condemnation" for housing fix

 

NEW YORK (Reuters) - Here's a controversial but intriguing approach to the U.S. housing crisis: keep cash-strapped residents in their homes by condemning their mortgages. A mortgage firm backed by a number of prominent West Coast financiers is pushing local politicians in California and a handful of other states hardest hit by the housing crisis to use eminent domain to restructure mortgages that borrowers owe more money on than their homes are actually worth. ...

Exclusive: Investors tout controversial "condemnation" for housing fix
Fri, 08 Jun 2012 20:44:41 GMT

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