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Underwater Mortgage

(Joe Raedle/Getty Images)

Realtors Launch Campaign Opposing Richmond’s Eminent Domain Plan On Mortgages

An association of Contra Costa realtors have started running radio ads in opposition to the City of Richmond’s plan to use eminent domain as a way of helping financially struggling homeowners.

03/17/2014

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 Reconsidering Eminent Domain Plan For Underwater Homeowners

The Richmond City Council Tuesday evening will consider scrapping the city’s controversial plan to buy struggling homeowners’ underwater mortgages.

09/10/2013

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