The latest front has opened in the ongoing (and spreading) issue about Mortgage Resolution Partners’ efforts to convince municipalities to use their powers of eminent domain to take underwater mortgages.
Here’s the Complaint, filed today in the U.S. District Court for the Nothern District of California, which seeks public disclosure by the Federal Housing
Cornell lawprof Robert Hockett, the guy who by all accounts thought up of the idea of using eminent domain to take “blighted” (underwater, but mostly performing) mortgages, was interviewed on “Air Occupy” about the scheme yesterday. Here’s the podcast (we originally embedded the podcast below, but the darn thing was set to play automatically
During a break at the recent ABA State and Local Government Law Fall meeting in Santa Fe, New Mexico, we took a short ride up to the town of Los Alamos for a little “nuclear tourism” at the site of the current National Lab, and, of course, the place where the first two atomic
The Honolulu City Council has proposed a charter amendment that asks the voters to approve eliminating the Mayor’s current veto power over the Council’s eminent domain resolutions.
The Resolution doesn’t directly say that, of course, but what it does command is that after the Council adopts a resolution to take property, the city administration must
Check this out: the lawprof who thought up the underwater mortgage taking plan, Cornell’s Robert Hockett, along with his co-author, the “Founder and Chief Strategy Officer” of Mortgage Resolution Partners (the venture capitalists who are funding the scheme and who stand to benefit from it), have posted a new article in the Harvard Law
It’s Monday and we’ve got a petition due Tuesday, so we’re not going to spend too much time on posting today. But we did want to update you on the latest on the mortgage front.
Earlier today, the Virginia Supreme Court, in PKO Ventures, LLC v. Norfolk Redevelopment and Housing Authority, No. 121534 (Sep. 12, 2013), invalidated takings of non-blighted properties which were part of a larger area designated as blighted.
In 2007, Virginia adopted a statute requiring that if property is taken to eliminate blight, the property
Dwight Merriam, familiar to our readers for the items of interest he frequently forwards, as a co-author of a recent brief in the New York rent control case, chapter author in the seminal eminent domain treatise Nichols on Eminent Domain, for being the editor of the ABA’s annual “Cutting Edge”
Here’s the cert petition filed earlier this week, asking the Supreme Court to review the Ninth Circuit’s decision in MHC Financing Ltd. P’ship v. City of San Rafael,714 P.3d 1118 (9th Cir. 2013).
That’s the case in which the Ninth Circuit overturned the District Court’s ruling (after two trials) that MHC had proven a