Posted on October 19, 2008 by David Snyder

Eminent domain Possible For Flight 93 Memorial site

The National Park Service may use its power of eminent domain to acquire the land necessary for a “Flight 93 Memorial.” Flight 93 was the fourth plane to crash on 9/11. Passengers of the plane stormed the cockpit, bringing the plane down in rural western Pennsylvania.

The National Park Service has been trying to acquire the land necessary for a memorial at the crash site. However, if the properties cannot be acquired amicably, they may be condemned. Negotiations are continuing.
 

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Posted on October 19, 2008 by David Snyder

Appraisers Class Action Lawsuit Filed Against Countrywide

A class action lawsuit was filed against Countrywide by a group of Idaho appraisers. The appraisers claim that Countrywide used strong arm tactics to pressure appraisers to provide false appraisals. The lawsuit further claims that Countrywide punished those appraisers who would not participated by blacklisting them and denying them work.

The class action complaint was filed in the United States District Court in Seattle. The plaintiffs seek to certify a class of all appraisers nationwide who have been blackballed by Countrywide.

Pressure from lenders has been an ongoing problem for appraisers for many years. Given the economic climate, it appears likely that similar cases will be filed.

 

 

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Posted on October 4, 2008 by David Snyder

HUD ANNOUNCES $4 BILLION NEIGHBORHOOD STABILIZATION PROGRAM

The Department of Housing and Urban Development has established a program to provide grants to state and local governments to purchase abandoned and foreclosed properties. According to HUD, the $3.92 billion Neighborhood Stabilization Program will provide emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state and certain local communities to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes. The purpose it to “stabilize neighborhoods and stem the decline of house values of neighboring homes.” Although the wording is unclear, it appears that these funds may be used to acquire property through eminent domain.
 

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