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Eminent Domain and Fair Market Value in a Depressed Real Estate Market (2014) / Chapter Skim
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Pages 45-45

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... 45 where an eminent domain program was used within the past 10 years; the Federal Housing Administration from guaranteeing mortgages within counties where an eminent domain program has been used in the past 10 years; and the United States Department of Agriculture "from making, insuring, or guaranteeing mortgage loans."520 FHFA suggests that the use of eminent domain to seize underwater mortgages could lead to redlining and violations of fair housing laws if only certain areas of a community are targeted.521 However, supporters of the eminent domain program suggest that it is FHFA that would be redlining. That is, FHFA would prohibit Fannie Mae and Freddie Mac from lending in communities that use eminent domain to acquire mortgages, communities that tend to have large numbers of underwater mortgages and large lowincome and minority populations.522 XI.
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