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Florida Eminent Domain Blog | Gregory W. Stoner
The Florida Eminent Domain Law Firm, PA
Monday, October 25, 2010
HUD Housing and Eminent Domain
If you live in HUD housing, you may worry when you receive notification that a state or local condemning authority is seeking to take your property with eminent domain. But don't worry--government guidelines will protect you from losing everything. When HUD is approached by a state or local government about condemning a housing development, its first concern is ensuring that all its tenants receive new comparable housing. In fact, unlike a normal renter, HUD will include relocation expenses for you as part of just compensation.
But if you are a homeowner who holds an FHA-insured home loan, you may not be so happy with the possible outcome of an eminent domain action. For some FHA loans (such as those refinanced through the Hope for Homeowners (H4H) program), the government may own some or all of the equity in your home, leaving you with little or no compensation after your home is taken with an eminent domain action.
To ensure that you receive the maximum possible compensation for your home after an eminent domain action, you need the help of an eminent domain attorney. Please contact the Florida Property Rights Law Firm, PA today to learn about the potential benefits and costs of fighting eminent domain.
posted by Admin at 8:31 AM
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