Underwater Mortgages

UC Berkeley Study Looks At Underwater Mortgage Problem, Supports Richmond’s Eminent Domain PlanThe report, titled “Underwater America: How the So-Called Housing ‘Recovery’ is Bypassing Many American Communities” is a first-of-its-kind look at the magnitude of the underwater mortgage issue.
Richmond Demands Wells Fargo Drop Lawsuit Over Eminent Domain Mortgage PlanThe 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.
Richmond Threatens Eminent Domain To Address Foreclosure CrisisThe city is the first in the country to take the step of threatening eminent domain to handle underwater mortgages.

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