In recent months, some municipalities have considered seizing the home mortgages of hard-pressed homeowners under the power of eminent domain for the purportedly public purposes of preventing foreclosures and potential localized loss of property values.
The novel initiative is untried in the courts and has been vigorously opposed by the financial services industry and even by some regulators. Nevertheless, it is gaining momentum at the local level and is likely to present a challenge to the legal, banking, and real estate industries. There is also a possibility of similar action at the state level.
On February 5, 2013, please join Mayer Brown partners Dario Frommer and Donald Falk as they explore the legal and political issues surrounding this proposed application of eminent domain.
This program is a Bloomberg BNA-sponsored webinar, and is CLE-credit eligible.
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