California Lt. Gov. Gavin Newsom believes a plan under consideration by Inland Empire communities to seize and restructure troubled mortgages deserves a look. (Brian van der Brug / Los Angeles Times)
By Alejandro Lazo
July 27, 2012, 4:36 p.m.
One of California’s highest-ranking politicians, Lt. Gov. Gavin Newsom, has told an investor group to “back off” and allow San Bernardino County to explore a controversial plan that would employ its eminent domain powers to seize and restructure troubled mortgages.