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Eminent Domain – Tool For Principal Reduction

Posted in Eminent Domain

There are homes by the thousand in which the home mortgage is in default and in many cases the homes are abandoned. These are homes where the mortgages are held in pooled servicing agreements, which do not allow foreclosure until certain conditions have been met, such as that a certain percentage of the mortgages have been paid off. By the rules of some pooled servicing agreements, no modifications are allowed, or no modifications are allowed if the borrower is more than a year in arrears. So modification and no foreclosure. James Prof Robert Hockett: Need Eminent Domain to Break Securitization Suicide Pact Killing Recovery – A Mandelman Matters Podcast Thanks to Martin Andelman http://mandelman.ml-implode.com/2014/01/prof-robert-hockett-need-eminent-domain-to-break-securitization-suicide-pact-killing-recovery-a-mandelman-matters-podcast/   If you’re looking to start a fight over dinner at your in-laws, just bring up the topic of eminent domain, specifically as Cornell University Law...

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Condemn Underwater Mortgages – Martin Andelman

Posted in Eminent Domain

Carpe Domum! The Little City that Could: Richmond, California THANKS TO MARTIN ANDELMAN Come with me to the City of Richmond in Northern California.  It’s a city that sits 16 miles northeast of San Francisco, directly across San Francisco Bay. It’s about a 30-minute drive from Richmond to San Francisco; Oakland is only about 20 minutes away.  And you can get to marvelous Marin County in just 15 minutes, driving across the truly  magnificent Richmond-San Rafael Bridge, from which you’ll see, off to the left, the infamous San Quentin State Prison, once home to such notable murderers as Sirhan Sirhan, Charles Manson, and “The Nightstalker,” Richard Ramirez.  San Quentin is, for men, California’s Death Row. Within a 30-mile radius of Richmond can be found over 3.7 million people, but in the City of Richmond alone, the population is just...

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