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City Hoping To Use Eminent Domain To Seize Homes From Banks, Give To Struggling Homeowners

City Hoping To Use Eminent Domain To Seize Homes From Banks, Give To Struggling Homeowners

AP: Officials in a struggling California city are pushing a plan to use the power of eminent domain to seize “underwater” mortgages and help homeowners at risk of foreclosure. But some say the plan is illegal and could hurt the local economy. (Oct. 18)

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