Tag: eminent domain
The city targeted the owner-occupied properties of its most vulnerable residents.
A split City Council moves ahead with plan to seize underwater mortgages to force better loan terms.
The City of Richmond is preparing to fight a lawsuit over its plans to save more than 600 homes with troubled mortgages by taking them through eminent domain. The law firm Ropes & Gray filed the suit in federal court in San Francisco Wednesday on behalf of Wells Fargo and Deutsche Bank, calling the city’s […]
By Matt Smith, The Bay Citizen Former San Francisco Mayor Willie Brown and a longtime business partner are among investors in a company drawing criticism for working with local government officials to take over and discount underwater mortgages. The plan gained impetus last month, when officials in San Bernardino County formed a joint powers authority to […]