An Indecent Proposal? Using Eminent Domain to Seize Mortgage Loans

Probate & Property Magazine: Volume 27 No 04

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Christina Jenkins is an attorney with the Dallas, Texas, firm of Middleberg Riddle & Gianna, serves as a vice-chair of the Multi-Family-Residential Committee of the Residential, Multifamily and Special Use Group and was a 2010−2012 RPTE Fellow.

This article discusses a proposal that local governments use eminent domain to condemn mortgage loans, force lenders to take a short payoff, apply a principal reduction, and refinance the loan to homeowners just under the fair market value of the property.

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