Doesn’t that picture of San Bernardino just look friendly and caring and a great place to live?
Well if you look past the fact that they’re so incompetent that they just filed for bankruptcy due to a $45 million deficit then yeah great place. In an effort to cover their irresponsibility, oops I mean to help their unfortunate citizens, they are planning on using their power of eminent domain to declare certain underwater homes “condemned”. Clearing the way to screw the banks that hold the mortgages by letting “Mortgage Resolution Partners” refinance the now government owned homes at a lower value reducing the homeowners payment, centrally reshuffling the market, and oh yeah getting a piece of the action. You know help the poor stupid over mortgaged residents, oops I mean to help close the $45 million deficit. And did I mention screw the original lenders?
Oh and who are Mortgage Resolution Partners? Just a group of former federal democrat appointees and Apollo Alliance members (Apollo is the George Soros funded group that wrote the Stimulus Bill). This should work out well for everyone.