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The American Empire in a Changing World



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Tuesday, July 17, 2012

''Some cities solve foreclosures by seizing them''

From Desert.com

''In the foreclosure-battered stretches of the Inland Empire, local government officials desperate for change are weighing a controversial but inventive way to fix troubled mortgages: Condemn them.

Officials from San Bernardino County and two of its cities have formed a local agency to consider the plan. But investors who stand to lose money on their mortgage investments have been quick to register their displeasure.''

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