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De Blasio ally open to city seizing foreclosed homes from banks (New York City)
The New York Post ^ | November 15, 2013 | Yoav Gonen

Posted on 11/15/2013 2:06:55 PM PST by 2ndDivisionVet

The most left-leaning candidate for City Council speaker says she would consider using eminent domain to seize homes that are in foreclosure from banks – a move that could leave taxpayers subsidizing the mortgages.

Melissa Mark-Viverito (D-Manhattan/Bronx), a close ally of Mayor-elect Bill de Blasio, said she was open to the proposal when asked about it during a forum in Queens Thursday night featuring five main contenders in the race for speaker.

“The idea of using eminent domain in a reverse way… as a way of seizing those properties from the bank as a way of making those homes affordable for people that want to stay in their communities I think is something we should look at,” said Mark-Viverito, a top contender for the powerful role. “I think it’s innovative, it’s creative … nothing should be off the table.”(continued)

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government; US: New York
KEYWORDS: crime; deblasio; democrats; foreclosures; mortgages; newyork; swine; theft
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To: 2ndDivisionVet

This idea is bound to be proven a disaster


21 posted on 11/15/2013 3:55:35 PM PST by lowbridge
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To: lowbridge

these people aren’t too smart about cause and effect are they?


22 posted on 11/15/2013 3:56:44 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: trisham

Leviticus 25:10
Consecrate the fiftieth year and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you; each of you is to return to your family property and to your own clan.


23 posted on 11/15/2013 3:57:28 PM PST by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: FreeAtlanta

You shall not covet your neighbor’s house;
you shall not covet your neighbor’s wife,
or his manservant, or his maidservant,
or his ox, or his ass,
or anything that is your neighbor’s.


24 posted on 11/15/2013 4:00:55 PM PST by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: trisham

It has nothing to do with coveting. Our system is broken (via, Cloward and Piven stategy). We need a reset and some firm laws in place to keep congress and the president from getting us back in this horrible 17 trillion dollar debt.


25 posted on 11/15/2013 4:03:07 PM PST by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: 2ndDivisionVet

They still have to pay those banks market rates.


26 posted on 11/15/2013 4:03:35 PM PST by CodeToad (When ignorance rules a person's decision they are resorting to superstition.)
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To: newfreep

Can’t be done. Even eminent domain is a legal action and process that has to go by the laws that govern such seizure.
That cannot be done other than fair market value and even that can be successfully challenged.
It will cost billions


27 posted on 11/15/2013 4:04:01 PM PST by bill1952 (Choice is an illusion created between those with power - and those without)
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To: 2ndDivisionVet
Full-on, no-holds-barred Communism.

I actually thought it would start in Kalifornistan, but New York doesn't surprise, either.

28 posted on 11/15/2013 4:06:03 PM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: bill1952

Sorry.....but communists don’t need no steenking law!

obamatollah ignores and rejects the Constitution and bankruptsy laws (see GM & Chrysler Secured Bondholders).

Eminent domain is child’s play...


29 posted on 11/15/2013 4:09:33 PM PST by newfreep (Breitbart sent me...)
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To: Lazamataz
Full-on, no-holds-barred Communism.

I'll give them NYC. It's the abortion capital of the world.

30 posted on 11/15/2013 4:11:45 PM PST by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: 2ndDivisionVet

If they want to do that, start with abandoned buildings, renovate them, then sell them to low-income people for a fee that is affordable but noticeable. Watch how the quality of housing improves.


31 posted on 11/15/2013 4:13:24 PM PST by TBP (Obama lies, Granny dies.)
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To: Zhang Fei
What part of seize says there will be payment?
32 posted on 11/15/2013 4:14:41 PM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: bill1952

Yes, and Obamacare was unconstitutional, too. How’d that work out?

These days I’m surprised that the laws of physics still work.


33 posted on 11/15/2013 4:15:08 PM PST by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: Lazamataz

Bankers are known for makingdeals

Wonder if they let contracts?


34 posted on 11/15/2013 4:15:42 PM PST by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: Jane Long
What part of seize says there will be payment?

The most left-leaning candidate for City Council speaker says she would consider using eminent domain to seize homes that are in foreclosure from banks – a move that could leave taxpayers subsidizing the mortgages.

Without payment to the bank, no subsidy is necessary - it would be a straight transfer from bank to mortgager. Besides, eminent domain *always* requires a market price payment - the only issue is how the market price is determined. What is in contention with most eminent domain cases is that holdouts think the property is undervalued at the current market price. In many and perhaps the majority of cases, the holdouts are right.

35 posted on 11/15/2013 4:30:17 PM PST by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: 2ndDivisionVet

The city has to borrow.

Piss of the banks and the funds will dry up


36 posted on 11/15/2013 4:31:30 PM PST by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: Zhang Fei
My mistake -- that IS a bank bailout, then...compliments of the taxpayers.

The last one out of NYC, turn the lights out.

37 posted on 11/15/2013 4:33:52 PM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: FreeAtlanta
Personally, I am ready for an international year of Jubilee.

I know what you mean, but consider this: If you have any savings, they will melt away with the debt in a Jubilee. One man's debt (liability) is another man's (or banking intermeidary's) asset.

There would be tremendous deflation, and the effects (and bankruptcies) would be unevenly distributed.

38 posted on 11/15/2013 4:39:07 PM PST by Pearls Before Swine
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To: ronnie raygun; All
Redistribution!!!!! NY has no idea whats coming.

Oh I think they do... I don't follow popular culture like many do, but in passing I noticed, haven't a couple of hip-hop moguls and or Hollyweird types put their places in NY city up for sale the last couple of weeks? Hmmmm......

39 posted on 11/15/2013 4:42:10 PM PST by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: Lazamataz

It did start in California - the City of Richmond, CA has a nice Green Party mayor and she proposed the idea some time ago.


40 posted on 11/15/2013 4:42:26 PM PST by 45Auto (Big holes are (almost) always better.)
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