AEIdeas

The public policy blog of the American Enterprise Institute

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Discussion: (1 comment)

  1. I don’t see how a mortgage can be deemed property subject to eminent domain. The home itself, sure, but the debt owed by the homeowner?

    Second, if the mortgage holder is supposed to be paid the value of the seized asset, why would they get only a fraction of the face value of the mortgage? While the house might only be worth X% of the mortgage, the mortgage is worth whatever someone would pay… and in the case of a mortgage which is being paid, that’s the face value of the mortgage.

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