free speech on college campuses California City Threatens to Use Eminent Domain to Stop Bank Foreclosures

A town in California is making headlines on how it is tackling its foreclosure crisis. In Richmond, almost half of the city's residential mortgage holders are underwater. In a major development last week, Richmond became the first city in the country to offer to purchase mortgages of distressed homeowners from Wall Street banks and other lenders. Under a plan approved by the city council in April, the city can also use its eminent domain authority to purchase loans in order modify them and allow families to avoid foreclosure and stay in their homes.

free speech on college campuses California City Threatens to Use Eminent Domain to Stop Bank Foreclosures
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News & Politics	Upload TimePublished on 6 Aug 2013

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