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Sacramento Area Officials Explore Using Eminent Domain To Aid Underwater Homeowners

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RICHMOND, CA - JULY 13: Mold covers the walls of a foreclosed home during a bus tour of foreclosed and blighted properties on July 13, 2012 in Richmond, California. (Photo by Justin Sullivan/Getty Images)
RICHMOND, CA - JULY 13: Mold covers the walls of a foreclosed home during a bus tour of foreclosed and blighted properties on July 13, 2012 in Richmond, California. (Photo by Justin Sullivan/Getty Images)

Sacramento and Elk Grove officials are exploring a controversial plan to use their powers of eminent domain to seize underwater mortgages from private investors and slash the amounts borrowers owe.

Read the whole story at Sacramento Bee