Mortgage Resolution Partners

A home for sale in Richmond. (CBS)

Judge Declines Banks’ Effort To Block Richmond Eminent Domain Plan On Underwater Mortgages

A 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.

09/12/2013

A home for sale in Richmond. (CBS)

Richmond Moving Forward With Eminent Domain Plan For Underwater Mortgages

The 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.

09/11/2013

Foreclosed homes on Lucas Street in Richmond (CBS)

Richmond Demands Wells Fargo Drop Lawsuit Over Eminent Domain Mortgage Plan

The mayor of a financially struggling East Bay city and several supporters showed up unannounced Thursday at Wells Fargo Bank’s headquarters to demand it drop a lawsuit fighting a novel plan to refinance hundreds of “underwater” mortgages.

08/15/2013

A foreclosure sign hangs on a fence in front of a foreclosed home on April 6, 2011. (Justin Sullivan/Getty Images)

Banks Sue Richmond To Stop City’s Plan To Help Homeowners With Underwater Mortgages

Two 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.

08/10/2013

Foreclosed homes on Lucas Street in Richmond (CBS)

Richmond Threatens Eminent Domain To Address Foreclosure Crisis

The city is the first in the country to take the step of threatening eminent domain to handle underwater mortgages.

07/30/2013

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