Banks push harder to sideline Richmond eminent domain plan

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The Bay Area city of Richmond is the first to push for the use of eminent domain in a plan that would see mortgages in repayment delinquency seized from lenders and investors, or rather sold at a deep discount, by the city, and then refinanced on behalf of borrowers with more affordable terms.

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Richmond Mayor goes the extra mile for eminent domain banks push harder to sideline richmond eminent domain plan christina Mlynski is a Reporter at HousingWire.

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United Wholesale Mortgage adds new ARM product Banks push harder to sideline Richmond eminent domain plan roughly half the homeowners in the Bay Area city of Richmond are underwater on their mortgages, but city officials have come up with a plan to float them to safety, much to the consternation of banks and other moneyed interests.

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Banks push harder to sideline Richmond eminent domain plan What a Modern Depression Looks Like The Costs of Homeownership Drive First-time Buyers Away manhattan real estate has never been more expensive Last week, we featured properties in New York City that were sold for only one dollar.

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*Wells Fargo $590 Million Settlement in Claims over Wachovia *Bank of America $8.5 Billion Settlement with BNY Mellon over Mortgages. *JPM $5.1 Billion FHFA Settlement BofA moves on principal reduction promised in AG settlement The most recent check, for production in August and September, amounted to $2,400, a 96 percent reduction. and moves.

Meet the People Getting Screwed Over By Jerry BrownFor Patti and Robert Castillo of Richmond, using eminent domain to prevent foreclosures boils down to a simple reality. "We are living paycheck to paycheck just to pay the mortgage," Patti.

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