Sunday, July 1, 2012

Watch the Birdie! Eminent Domain

Watch the Birdie! Eminent Domain 

Guest Post by: Patrius Americanus
June 30, 2012

Eminent Domain for Mortgages
("Watch the Birdie")

Here's the birdie: the latest twist on the use of eminent domain is described as being for the benefit of the homeowner who is under water. (That ought to get their votes.)

If this succeeds, it opens up another path for a way to implement Agenda 21.

Eminent Domain Is Bad Ploy for Underwater Mortgages

Mortgage Seizures Create 'Very Serious Concerns,' Sifma Says:
"... legal scholars have made it clear that using eminent domain to save neighborhoods serves valid public purposes and is constitutional."

Legal scholars have demonstrated their ability to make anything constitutional, haven't they?

It does not consider the issue of tax liens on properties which have unpaid real estate taxes, and which are subject to tax lien sales.

Follow the money. Who is really going to profit? According to the article linked-to above, paragraph headed, 'Entirely Constitutional' :

" Mortgage Resolution Partners LLC, a San Francisco-based investment firm headed by Steven Gluckstern, proposed the plan, ... Such a firm may be the buyer of the loans at discounts to a home's value and then rework them..."

Is it really just another way to bail out the banks and investment firms who still have holdings of Collateralize Mortgage Obligations, (i.e., packages of mortgage bundles) or mortgages which still include foreclosure properties?

Since TARP, QE2, and the nationalization for Fannie and Freddie failed to solve the problem, is this a way to transfer the problem to the private sector for new specialty investment firms to profit???

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