Commentary: Eminent domain plan won't resolve housing issues

04/26/2013 | Pennsylvania+Wall

Timothy Cameron, managing director of SIFMA's Asset Management Group, explains how pitchmen continue to roam the country offering eminent domain as a way to resolve high levels of foreclosures. "Their proposed plan to abrogate a perfectly valid contract by seizing mortgages to force loan restructurings is an offer that should be refused," Cameron writes. "Unless, of course, the cities deliberately want to further depress housing prices in their communities at a time when housing prices are seen to be recovering across the country." Learn more at SIFMA's Eminent Domain Resource Center, including SIFMA's efforts since the issue began.

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