Judge Declines Banks' Effort To Block Richmond Eminent Domain Plan On Underwater MortgagesA federal judge in San Francisco sided with the City of Richmond in its effort to take over mortgages from hundreds of struggling homeowners by denying a request from banks for a preliminary injunction because it's too premature to decide.
Richmond Moving Forward With Eminent Domain Plan For Underwater MortgagesThe Richmond City Council voted 4 to 3 early Wednesday morning to continue pursuing the controversial plan, which could use the city’s power of eminent domain to force bondholders to sell underwater loans.
Richmond Reconsidering Eminent Domain Plan For Underwater HomeownersThe Richmond City Council Tuesday evening will consider scrapping the city’s controversial plan to buy struggling homeowners’ underwater mortgages.
Banks Sue Richmond To Stop City's Plan To Help Homeowners With Underwater MortgagesTwo banks are suing the city of Richmond over its plan to invoke eminent domain to help struggling homeowners refinance into new mortgages in line with their homes' current value.
Banks Find Loophole To Avoid Cleaning Up Richmond Foreclosures Richmond has some of the most strict laws about taking care of foreclosed properties, but residents say three banks have found a way around those regulations.