Bill takes aim at eminent domain mortgage plan

07/18/2013 | Housing Wire

A bill reintroduced by Rep. John Campbell, R-Calif., is designed to halt attempts by municipal governments to use eminent domain to assume the obligations of certain mortgages. "SIFMA commends Congressman Campbell on his introduction of a bill that would limit the risk posed to the federal government by municipalities that choose to adopt ill-advised plans to seize mortgage loans from Main Street investors," said former Sen. Judd Gregg, CEO of SIFMA, and SIFMA President Kenneth Bentsen Jr. Read SIFMA's statement about the legislation.

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