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Latest ABI Podcast Examines California Countys Controversial Proposal to Use Eminent Domain to Provide Relief for Underwater Homeowners

Alexandria, Va.— The latest American Bankruptcy Institute (ABI) podcast features ABI Executive Director Sam Gerdano talking with former ABI Resident Scholar Prof. Mark Scarberry of Pepperdine University School of Law about a controversial proposal being considered by a few localities in California to provide relief to underwater homeowners. Officials from San Bernardino County, Calif., along with two other cities are considering a proposal to use eminent domain to reclaim underwater, but performing, mortgages to then rewrite the mortgages and lower the monthly payments. The county would then pay investors what they consider "fair value" for the mortgage. Link to podcast: http://news.abi.org/podcasts/118-examining-california-countys-controversial-proposal-to-use-eminent-domain-to-provide-re Prof. Scarberry talks about the San Bernardino proposal and the Constitutional and practical ramifications of using eminent domain. During his tenure as ABI’s Resident Scholar for the Fall 2007 semester, he tracked and compared a number of mortgage-relief proposals that were introduced in the 110th Congress, including mortgage modification for primary residences of chapter 13 debtors. ABI’s podcast program features interviews with important figures or experts discussing timely bankruptcy topics or issues. ABI podcasts are freely available for members, the public and the press, and can be accessed on ABI’s Newsroom website or via Apple’s iTunes music store. ### ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes more than 13,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abiworld.org. For additional conference information, visit http://www.abiworld.org/conferences.html.