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Panel seeks ways to ease homeowner debt

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A working group exploring the concept of using eminent domain to stabilize the debt of homeowners whose mortgages are greater than their home values will hold up to nine public meetings before delivering recommendations in May, said City Councilor-at-Large Jass Stewart, who chairs the new 11-member panel. An organizational meeting was held last week. Under discussion are ways to acquire securitized mortgage debts on eligible homes and implement a plan to service, underwrite, resell, or otherwise stabilize those households at present-day value, Stewart said.

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