Eminent Domain: How to use eminent domain to stop foreclosures, rescue homeowners and save communities

The last four years have been dominated by the worst financial crisis in the United States since the Great Depression. At the center stands the housing crisis, characterized by millions of homeowners who have lost their homes to foreclosure and many more who stand poised to lose theirs. To date, nothing coming out of Washington, D.C. or Wall Street has made a dent in this epidemic and nothing appears on the horizon that might change that trend. Yet unless we solve the housing crisis, there is little hope that our economy will recover. Communities can no longer wait for a national solution. The question is, if the federal government with all its power can't or won't provide a solution, can local communities provide one themselves that will allow them to halt foreclosures and take control of their local economies? The answer is yes, and it can be found in one particular power that each and every government already has, from the federal level down to the smallest burg - the power of eminent domain! It gives even the smallest townships something more powerful than the largest banks on Wall Street. With eminent domain, counties, cities, towns and villages can block those banks from foreclosing on homeowners and force them to give up their ownership in the mortgages and promissory notes that were being used to seize those homes. As a consequence, homeowners can keep their homes, thus preserving neighborhoods and allowing communities to get back on their feet and move their economies forward.