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 »
City of Hesperia May Use Eminent Domain to Acquire Mortgages, 6/7/12
By A.J. Hazarabedian The City of Hesperia is considering an interesting use of eminent domain during its upcoming City Council meeting. The Victorville Daily Press reported this week that the City may decide to use eminent domain to acquire underwater mortgages in an attempt to help homeowners. As the article describes, the City will discuss… Read more »