Can the government retain all foreclosure proceeds?

The Supremes, AKA the Justices of the United States Supreme Court, are going to weigh in on foreclosure sales. Specifically whether when the government retains a surplus from a foreclosure sale, is that a violation of the Takings Clause? And, whether low sales prices at a foreclosure sale violate the 8th amendment prohibition against excessive fines. […]

Federal home buy out for flood plains

45,000 homes have been bought since 2001, at a cost of nearly $4 billion through the Federal Emergency Management Agency’s property buyout program. For every $1 invested in the program, disaster recovery costs are saved by an estimated $4-$6 dollars. The Conversation | FEMA buyouts vs. risky real estate: New maps reveal post-floodmigration patterns across the US

Neighborhood Reinvestment Plan funding

Atlanta’s mayor has announced a Neighborhood Reinvestment Plan backed by $5 billion from property tax reallocation. The impetus of the plan? The significant health disparities, including a 20 year life expectancy gap, between neighborhoods 7 miles apart. The $5 billion in funding will support affordable housing, transit, parks, health centers and local business development.

Zombie mortgage battle

What is a zombie mortgage? a long-dormant debt, often from a second mortgage or home equity line of credit, that unexpectedly reemerges years after homeowners assumed it was settled. A lawsuit by mortgage lenders and other trade associations is asking a court to declare unconstitutional a California prohibition against reawakening these dormant zombie mortgages.  The […]

Eminent Domain at the Supreme Court

12 Attorneys General have filed a brief with the U.S. Supreme Court asking the Court to take up an eminent domain case concerning North Dakota ranchers. Courts awarded the ranchers compensation that more appropriately reflected fair market value, but an appeals court said North Dakota law concerning attorney fees did not apply to a private pipeline. Big […]