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Fifth Amendment › Eminent Domain › Mortgages

Nossaman LLP

Lenders React to Richmond's Plan to Condemn Mortgages by Filing Suit

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We all knew this was coming (see my post from July 23). If you poke a sleeping giant, it's going to file a lawsuit against you in federal court. Yesterday, in response to the City of Richmond's preliminary actions to...more

Dechert LLP

Municipalities Continue to Advance Plans to Use Eminent Domain to Seize Underwater Residential Mortgages

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A number of industry groups1 (the “Industry Groups”) raised concerns recently when Mortgage Resolution Partners (“MRP”) entered into contracts with two additional municipalities to formalize the use of eminent domain programs...more

Nossaman LLP

Stanislaus County Moving Forward with Claribel Road Project

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After two years of negotiating with residential property owners, the Stanislaus County Board of Supervisors approved acquisition of the property by eminent domain. The Modesto Bee reports that the board approved the...more

Dechert LLP

Left Out in the Cold: New Jersey Court Holds Condemning Authority Not Required to Negotiate with Lenders in Eminent Domain...

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Early last month, in Borough of Merchantville v. Malik & Son, LLC, 429 N.J. Super. 416 (App. Div. 2013), the New Jersey appellate court held that a condemning authority, under the State’s eminent domain law, was not required...more

Nossaman LLP

More Reports on San Bernardino's Decision to Abandon Underwater Mortgage Eminent Domain Plan

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Given how much publicity the proposal to condemn underwater mortgages received when it first appeared last summer, I suppose it's not surprising that San Bernardino's decision last week not to move forward has also garnered a...more

Nossaman LLP

San Bernardino Not Moving Forward with Proposed Plan to Condemn Underwater Mortgages

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For the better part of a year, we've been writing about the controversial proposal to use the power of eminent domain to condemn underwater mortgages, allowing homeowners to have a new loan that better reflects the underlying...more

Nossaman LLP

Big Year For Published Eminent Domain Decisions

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Originally Published in Daily Journal, January 15, 2013. As we look back on 2012, federal funds continued to make their way to local projects and shovels continued to break ground for infrastructure projects. This led to...more

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