US Local Governments Seek Eminent Domain To Solve Mortgage Crisis, But Legality Is Contested - International Business Times→

With U.S. mortgages worth more than their associated property values, homeowners have struggled to make payments, with some willingly defaulting. Now, some local governments are turning to a new tool to fix the problem, known as underwater mortgages: seizing the loans through eminent domain and enacting principal reductions, a move that is attracting both praise and controversy.