· 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.
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Desperation is driving some politicians to go where no government has gone before. The City Council of Richmond, Calif., voted in September to use the power of eminent domain to condemn 624 mortgages in which the homeowners owed more than the current market value of the property. The vote threatens to bring mortgage financing for residents to a crashing halt.
Property owners in Sacramento’s Pocket area are faced with giving up portions of their lots to the city after council members voted Tuesday to use eminent domain for a paved bike-and-pedestrian.
The angry industries involved have leveraged that plot line to their benefit, casting the eminent domain proposal as something that sounds like a Wall Street (or government, depending on your.
WALTHAM, MA – Waltham City Council voted to take the Stigmatine property by eminent domain to use for the new High School. The vote on Monday night to take the 46 acres of land owned by the.
Richmond, CA Meets on Eminent Domain Proposal While Others. – 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 came within inches of terminating the city’s contract with Mortgage Resolution Partners to seize underwater mortgages through eminent domain.
If the board approves it, the building commission could vote on the bonds jan. 24. But before the project could go ahead, the County Board and Omaha City Council would need. led by an eminent.
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.
Fitch Sees 60% of Current RMBS Borrowers Underwater Step one: Republicans begin fight for Dodd-Frank replacement WASHINGTON – A vote on a House plan to replace the Dodd-Frank Act may not happen as quickly as originally expected due to limited floor time and other legislative priorities, such as health care reform, that are likely to take precedent. House Financial Services Committee Chairman Jeb Hensarling.Fitch to Rate COLT 2016-3 Mortgage Loan Trust; Presale Issued. – Fitch’s stress and rating sensitivity analysis are discussed in its presale report released today ‘COLT 2016-3 Mortgage Loan Trust’, available at ‘www.fitchratings.com’ or by clicking on the link.S&P Lowers the Boom on 1,326 Alt-A RMBS Classes At year-end 2014, U.S. insurers’ exposure to agency-backed RMBS was about $252.9 billion in BACV (see Table 4). About two-thirds, or $170.1 billion, was held by life companies. P/C companies held $64.1 billion (or 25.3%) of the remaining $82.8 billion. As a percent of assets, P/C companies have a larger exposure to RMBS than Life companies.