Banks push harder to sideline Richmond eminent domain plan

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Richmond’s city council is only one vote short of the supermajority needed to pursue the eminent domain plan, and it is seeking partners in a Joint Powers Authority that will make the push much stronger. Grassroots efforts to pursue eminent domain are also underway in a number of other cities around the country.

Judge Declines Banks’ Effort To Block Richmond Eminent Domain Plan On Underwater Mortgages. Deutsche Bank, Eminent Domain. of a plan by the city of Richmond to use eminent domain to force.

Banks push harder to sideline Richmond eminent domain plan. Many of the targeted loans are not underwater.. Richmond eminent domain plan rattles mortgage industry. July 31, 2013.

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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. The city is strongly considering using the power of eminent domain to.

Jessica Richmond- Purchasing Land with an existing Pipeline Easement Can a city use eminent domain to write off its citizens’ home loans? – It’s our community that’s at stake here,’ Richmond Mayor Gayle McLaughlin said, noting the eminent domain plan is needed to help the city of. a coalition to take legal action to oppose the push,

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The city council in North Las Vegas, Nevada, on Wednesday rejected a plan to use eminent domain if necessary to help refinance "underwater" mortgages, an idea the mortgage industry opposes at a.

‘It’s our community that’s at stake here,’ Richmond Mayor Gayle McLaughlin said, noting the eminent domain plan is needed to help the city of 106,500, on the eastern shore of San Francisco Bay.

Fully extinguished second liens under HAMP hard to come by Congratulations on the modification and having the second lien fully extinguished. The 2mp program doesn’t always end in an extinguished lien for everyone, there is a criteria that the servicer follows and the first lien would have needed to be modified under the HAMP program.

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