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Mortgage Resolution Partners

To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain

Peter Dreier | Posted 09.17.2013 | Politics
Peter Dreier

In almost every part of the country, entire neighborhoods -- and in some cases, whole cities -- are underwater. They are not victims of natural disasters like Hurricanes Katrina and Sandy. They are drowning in debt, victims of Wall Street's reckless and predatory lending practices.

Eleazar David Melendez

City Weighs Dramatic Foreclosure Crisis Solution | Eleazar David Melendez | Posted 01.15.2013 | Business

In a move that’s pitting grassroots housing activists against Wall Street interests, the City Council of Brockton, Mass., decided this week to commi...

Peter S. Goodman

Why Underwater Cities Are Contemplating Condemning Mortgages | Peter S. Goodman | Posted 10.01.2012 | Business

SACRAMENTO, Calif. -- Ask Vice Mayor Angelique Ashby what pushed her to this point -- the point at which she is openly considering using city authorit...

Ben Hallman

San Bernardino Eminent Domain Fight Closely Watched By Other Struggling Communities | Ben Hallman | Posted 09.25.2012 | Business

SAN BERNARDINO, Calif. -- This old railroad town in the heart of the Southern California foreclosure belt doesn't attract many visitors these days, es...

Ben Hallman

Can You Save San Bernardino? | Ben Hallman | Posted 08.07.2012 | Business

Have a solution to the housing crisis? A California county that touched off a fierce debate over whether local governments should condemn underwater m...

Eminent Domain to Stop Foreclosure: Clever, but Not the Only Solution

Miriam Axel-Lute | Posted 09.23.2012 | Money
Miriam Axel-Lute

The heat wave may have broken, but the news is still hot on the latest scheme to deal with underwater mortgages: getting them from the lenders through eminent domain in order to modify them and keep people in their homes.

A Controversial New Plan To Stop Foreclosures

AP | AMY TAXIN and CHRISTINA REXRODE | Posted 09.15.2012 | Los Angeles

FONTANA, Calif. — In a story July 15 about a proposal for cities and counties to use the power of eminent domain to seize mortgages and help hom...

An Eminently Bad Idea

Robert Kuttner | Posted 09.26.2012 | Politics
Robert Kuttner

You may have noticed news items that a company called Mortgage Resolution Partners (MRP) is proposing to have strapped localities use the public power of eminent domain to deal with the problem of underwater mortgages.

Troubled County Began Eminent Domain Talks In Secret

Reuters | Posted 09.12.2012 | Business

* San Bernardino began talks with investor group in January * County and Mortgage Resolution Partners agreed not to disclose ...

Look Who Hopes To Turn A Profit From The Wrecked Housing Market

Reuters | Posted 03.14.2012 | Business

* Gordian Sword: "We just might do a good thing for America" * Jan. letter says success of firm rests on "secret formula" ...