The Richmond City Council has failed to obtain the supermajority of votes needed to enact its eminent domain plan to seize underwater mortgages. Seizing Mortgages – The Constitutional Issues Opponents of the Richmond plan to seize underwater mortgages through eminent domain have criticized the plan as unconstitutional.
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WALTHAM, MA – A proposal to take the Stigmatine Fathers & Brothers property by eminent domain is officially dead, as the full waltham city Council voted to reject it at a meeting Monday night..
New York Times – January 11, 2014, by Shaila Dewan – You can’t fight city hall, the saying goes. But Gayle McLaughlin, the mayor of Richmond, Calif., a city of 100,000 souls, would tell you that Eminent Domain: A Long Shot Against Blight | The Center for Popular Democracy
Now a new plan would only compound the folly, at least in the Bay Area city of Richmond, where officials seeking to boost the local housing market propose to take mortgages from private lenders through eminent domain. Richmond’s scheme, affirmed by a city council vote this week, is the brainchild of Mortgage Resolution Partners, a group of.
Breyer agreed Wednesday finding the case premature since Richmond has not yet exercised eminent domain and might not do so in the future. Pursuant to state law, the city cannot move forward with the plan without a supermajority vote from Richmond’s City Council to use eminent domain. No such vote has taken place yet.
RICHMOND – An unprecedented plan to buy struggling richmond homeowners’ underwater mortgages is moving forward. 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.
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After a seven-hour meeting that dragged into early Wednesday morning, the Richmond City Council voted 4-to-3 to continue pursuing its plan to condemn underwater mortgages using the city’s eminent domain power. The development is just the latest in an ongoing and high-stakes dispute over a novel property law argument.
Richmond, CA Holds Meeting on Eminent Domain Mortgage Seizure Proposal, While Other West Coast Cities Review Proposal Logistics Late Wednesday night, after nearly seven hours of debate, the Richmond, California City Council voted on three different eminent domain mortgage seizure resolutions that had been proposed for their meeting .
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.
FNC: Home prices slightly increase Released January 19, the FNC Residential Price Index reported that home prices in November remained largely unchanged, a dip of 0.1 percent, from October but are still increasing on an annual basis.