Earlier this year, San Bernardino County sensibly took the use of eminent domain off the table as they considered efforts to address the county's housing problems. 

Still, municipalities around the country are in the midst of considering the use of eminent domain to help struggling homeowners.

The proposals being touted target a very narrow slice of homeowners – those that are in private-label MBS and who are current on their existing mortgages, have good credit, and ideally don’t have existing home equity loans or other liens on the property. Those who are behind on their mortgage payments or have poor credit (which is the vast majority of homeowners needing help) will get no relief.