North Las Vegas’ Eminent Domain Scheme: Well-Meaning, but Dangerous

San Francisco-based Mortgage Resolution Partners (MRP) has been pitching a scheme to get distressed cities to use their right of eminent domain to seize underwater homes and pay MRP to help restructure the mortgages. They tried and failed in several cities before finding a receptive audience in North Las Vegas. Naturally, city officials want to… [More…]