Vol. 5 No. 1, Fall 2013; “Correcting” the Foreclosure Crisis?
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Mortgage Resolution Partners, a venture capitalist firm based out of San Francisco, has been visiting with state and local governments across the country. Mortgage Resolution Partners proposes that eminent domain can, and should, be used to seize mortgages and refinance them in an attempt to correct the United States’ foreclosure crisis. This article identifies and analyzes the policy issues and constitutional concerns that are inherent in the plan. The most critical constitutional concerns with the plan implicate the Takings Clause, the Contracts Clause, and the Dormant Commerce Clause of the United States Constitution.