· City of Chicago Moves Forward with eminent domain claim on Old Post Office Site New, 4 comments But current owner Bill Davies is not giving up on the 12.6 acre site without a fight
Meet the Mayor Who’s Using Eminent Domain to Fight Foreclosure The fearless Gayle McLaughlin of Richmond, California, has taken on Chevron and big banks on behalf of taxpayers and underwater.
Robert Hockett, a Cornell University Law School professor who is the author of a plan to use eminent domain to purchase underwater mortgages in distressed communities such as Richmond, Calif., can be reached through Cornell’s Media Relations Office, [email protected].
Nonbank takes big loss thanks to lower interest rates Richmond Mayor committed to eminent domain fight The oil giant’s spending millions to defeat Mayor Gayle McLaughlin and her slate. and community prior to big vote on eminent domain to save homes.. in Richmond, and are dedicated to preserving the city’s “quality of life.The Cooper nuclear.
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The mayor of Richmond, Calif., is ready to fight for the use of eminent domain to aid underwater homeowners, while the Obama administration is publicly correcting inaccurate mortgage fraud data. Foreclosure and the eminent domain solution explained Richmond, Calif.’s plan – which dozens of localities are considering – is facing legal and.
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· September 11, 2013. After a marathon hearing that wrapped up in the wee hours of Wednesday morning, the City Council of Richmond, Calif., voted to allow the use of eminent domain to seize underwater mortgages, becoming the first city in the nation to take such a concrete step toward the novel and risky strategy for helping people avoid foreclosure.
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A Novel Use of Eminent Domain. The MRP plan relies on a somewhat novel use of eminent domain, which is traditionally used to seize land for city planning purposes. Richmond is proposing to seize 624 mortgages valued at more than the homes for which they were written and refinance them at rates more favorable to homeowners.
RICHMOND PULSE is a community news and media outlet, committed to amplifying the voices of the city’s under-served residents. Our reporting is led by young people, with the intent of serving the entire community. Through our work, we seek to create dialogue, and find solutions to, the health issues that plague the Richmond, California community.