You still have failed to connect the bully dots amigo. These are merely 2 discreet branches of gov. engaging in the give and take of democracy. Exactly how is he “bullying” a judge? Or is that just hyperbole?

Can mortgages be condemned or can only the underwater portion of a loan? And if so this would be a logistic nightmare to condemn only the portion of a loan that exceeds a home’s market value.

And what if the real estate market takes another dive? Or say that rampant inflation starts up that would provide homeowners with a rapid windfall while all other property owners in S.B. County are stuck paying off old mortgages for them. How would this work? This would violate State Constitution that forbids a gift of public funds. If those homeowners who participate in such a bailout are forbidden from any gain or appreciation in their home, what homeowner in their right mind would want to participate in this scheme?

Can they be condemned by cherry picking the best ones and leaving the worst one? Under eminent domain law, you have to also value the lenders’ WHOLE loan portfolio, not each individual home or mortgage. That would involve thousands of mortgages in a loan pool.

Can underwater homeowners “apply” for eminent domain? If so, the administrative cost for filing separate eminent domain cases for each underwater mortgage would be about $50,000 per case — totally economically infeasible.

How are they going to get all the other property owners in S.B. County to approve a bond to pay off bad mortgages for those who have underwater mortgages?

Even if underwater homeowners are allowed to apply for eminent domain, who is going to pay damages to the remainder of a lender’s portfolio as required by law?

There are so many unanswered and complex legal questions involved that it is unlikely that the proposal to buy out bad mortgages using eminent domain would work without creating even worse problems.

An eminent domain program for underwater mortgages may also create an even worse stigma on S.B. County real estate. Who would want to invest there knowing that a seller can now re-sell his home but a buyer would have to buy such a home and also pay a share of the county-wide cost of all the bad mortgages in the form of increased property taxes.

The lenders, brokers, and property owners without underwater mortgages all have good reason to “threaten” lawsuits to protect their interests. There will be no “backing off” from that.

Zero remains 0 for 9 ™
it bugs him!