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Eminent Domain Municipalities Foreclosure

Goodwin

California Municipality Approves Mortgage Seizure Plan

Goodwin on

The City Council of Richmond, California recently approved a plan that would allow the city to seize mortgages in which the remaining mortgage balance exceeds the property value by using eminent domain, making it the first...more

Nossaman LLP

Federal Court Halts Lender Underwater Mortgages Lawsuit Against Richmond

Nossaman LLP on

On September 12, the City of Richmond caught a small reprieve with respect to its plan to condemn underwater mortgages. As reported by Reuters, the federal district court ruled that the lawsuit filed by lenders Wells Fargo,...more

Sheppard Mullin Richter & Hampton LLP

Showdown in the Richmond: The City of Richmond Threatens Eminent Domain on Underwater Loans

BREAKING NEWS: In a contentious 4-3 decision and amid more than 300 community members on both sides of the issue, the City Council for the City of Richmond voted to continue pursuing its eminent domain plan in the early...more

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