Nevada Becomes Fourth State to Ban Use of Eminent Domain to Seize Underwater Mortgages

The REALTORS® of Nevada, one of the states hardest hit by the foreclosure crisis, joined the states of Alabama, Maryland and Louisiana in amending their state constitutions to ban the use of eminent domain to seize underwater mortgages. The Nevada Association’s success on this issue at the state level will prevent this infringement of property rights from coming up in local governments throughout the state, which is very costly to fight.

• Read more about the Nevada Association’s success in banning eminent domain for underwater mortgages (86K PDF)