: Eminent Domain as a Means to Reduce Principal
Eminent Domain as a Means to Reduce Principal
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.
Representative Brad Miller, (D-NC)
Jim Carr, Senior Policy Fellow, Opportunity Agenda
Tom Deutsch, Executive Director, American Securization Forum
Steven Gluckstern, Chairman, Mortgage Resolution Partners
Julia Gordon, Director, Housing Finance & Policy, Center for American Progress