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Eminent Domain as a Means to Reduce Principal

January 8, 2013, 12:00pm ET - 1:30pm ET



The housing crisis wiped out nearly $7 trillion in homeowner equity and caused a wave of foreclosures that have crippled the nation’s housing market for nearly four years. While the housing sector appears to be on the road to recovery, the comeback is slow, and many communities are still struggling. CoreLogic estimates that more than 10 million homeowners are still underwater, which portends more defaults, foreclosures, and the possibility of derailing the recovery.

This event examines recent calls for municipalities to use eminent domain to restructure underwater mortgages. Please join us for what’s sure to be a spirited conversation.