LA County Voters: Yes on Measure E!

The South Bay Association of REALTORS® is proud to support Measure E on the ballot for November 6, 2012. During times of increased tuition and costs for higher education, Measure E provides needed funding for El Camino College to ensure the success of its mission to offer quality academics and an educational experience that our region's future leaders deserve.

El Camino College's leadership states on its website that they are facing up to $10 million in budget cuts, even while seeing increased demand from new and prospective students, including former and active duty military personnel. From the website:

Since El Camino College was established, every effort has been made to offer labs, classrooms and instructional facilities that meet current and future academic needs. As job opportunities in high-tech and “green” technology industries expand, we continue to offer the training and resources needed to be competitive in these professions.

The Board also acknowledged that due to the growing number of returning military personnel, as well as active military, the upgrade of support services facilities is a high priority of the District.

In these challenging economic times, students need quality academics and job training more than ever. In order to provide the exceptional education our students need, we are asking our community for assistance.

When you vote your favorite candidate for president and for or against some of the various ballot propositions, don't forget to cast your yes vote for Measure E.

The gov't could seize your mortgage by eminent domain because...why, exactly? No one knows for sure

We have heard reams of discussion and impassioned arguments for and against the notion of using eminent domain to seize mortgages for the purpose of somehow solving the foreclosure crisis. But what is eminent domain really for? The government reserves its right to seize private property for the greater public good. This may mean things like schools, roads, airports, and similar land uses.

But mortgages? We're not talking about the ground itself, but the underlying financial instrument that is a civil contract between two private parties - lender and borrower. Putting aside the sense that this is an irresponsible, unethical and painfully overreaching use of eminent domain, it seems that the math doesn't add up either.

Our friends at the Inland Valleys Association of REALTORS® have put together pages of data and news on eminent domain. Just for example, maybe the eminent domain proposal cannot actually help those homeowners most in need and most at risk of losing their homes.

Or is that the private company that proposed this scheme may stand to profit up to 30 percent profit, after paying 80 cents on the dollar for these loans seized by the government. Nice money if you can get it - but whom does it really help?

Stay tuned for more information on the use and abuse of eminent domain as it applies to your mortgages.