Richmond, California Has Yet to Exercise Eminent Domain to Seize Underwater Mortgages, 6/30/14
While the city of Richmond is the first municipality to approve the concept of using eminent domain to acquire underwater mortgages, the city has yet to actually do so. The City Council has been unable to get the needed 5 out of 7 votes to go through with eminent domain proceedings. Therefore, the city is… Read more »
Follow Up: Eminent Domain for Condeming Underwater Mortgages, 6/27/12
By A.J. Hazarabedian In a recent post, we talked about the City of Hesperia voting on whether or not to join a Joint Powers Authority to begin acquiring underwater mortgages by eminent domain in an attempt to help homeowners. Since our post, more information has been revealed providing the logistics to this interesting proposal. A… Read more »