"A Complete Abrogation of Private Property Rights”

Private Property Rights Threaten by Eminent Domain Abuse

Representative John Campbell (R-California) reintroduced a bill last week to limit potential harm to taxpayers and retirees if city and county governments were to use the power of eminent domain to take over underwater mortgages. 

Known as the The Defending American Taxpayers from Abusive Government Takings Act, the bill targets a controversial proposal to have local governments seize underwater mortgages through eminent domain, and then have the mortgages refinanced under new terms reflecting the current value of the home. Last year, Mortgage Resolution Partners (MRP) proposed the idea to officials of San Bernardino County—who rejected the proposal—and has since taken the concept to various cities.