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Eminent Domain and Real Estate Valuation Blog Condemnation and Real Estate Litigation

FHA Considering Eminent Domain Policy

Posted in Eminent Domain, PennDOT

The Department of Housing and Urban Development may issue eminent domain related rules. At a recent House Financial Services subcommittee hearing, Reps. Blaine Luetkemeyer, R-Mo., and Edward Royce, R-Calif., noted counties in their states are considering using eminent domain to acquire private-label underwater mortgages. They also noted that FHA has barred Fannie Mae and Freddie Mac from refinancing loans seized through eminent domain. However, FHA does not have a similar policy. HUD deputy assistant secretary Charles Coulter stated that "We will certainly take a look at it and consider something similar.”