The county, along with Ontario and Fontana, wants to use eminent domain to seize underwater mortgages from investors and restructure them to help borrowers keep the homes.
A plan by San Bernardino County to seize mortgages and restructure them for underwater homeowners using eminent domain is perhaps the most aggressive example of how local governments are seeking new ways to combat foreclosure.
Source: http://www.realestateclubla.com/real-estate-news/la-times-real-estate/san-bernardino-county-weighs-eminent-domain-to-fight-foreclosures/
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