by Greg Diodati
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by Greg Diodati
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Despite widespread opposition from the finance industry and the Federal Housing Finance Agency (FHFA),Richmond California, plans to move forward with a plan to use the government’s “eminent domain” privilege to seize homes with underwater mortgages on behalf of homeowners.
Richmond’s city council approved the plan in a narrow four-to-three vote early Wednesday, according to Reuters.
via California Town Proceeds with Emiment Domain Plan to Seize Mortgages.
#realestate #agent #foreclosure
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