Law360, San Diego (January 25, 2013, 10:43 PM ET) -- San Bernardino County, Calif., on Thursday abandoned a bold proposal to ease the foreclosure crisis by using eminent domain to take over houses with underwater mortgages, a retreat experts say will likely make other municipalities in California and beyond think twice about adopting a strategy certain to face drawn-out legal challenges from the banking industry.
The Homeownership Protection Program Joint Powers Authority board, which is made up of the county and two of its cities, Ontario and Fontana, voted unanimously to discontinue a plan aiming to...
Calif. County's Halted Mortgage Seizure Plan May Deter Others
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