In an Oct. 1 op-ed article, David Reiss writes that it is eminently reasonable for government to use the “ancient prerogative” of eminent domain to take so-called underwater mortgages from lending institutions and strike new, more favorable deals with borrowers.
The principal amount of such a mortgage, he explains, would be brought “in line with a mortgage that would be appropriate for the fair-market value of the home.”
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