Richmond Confidential obtained a list of 602 of the 624-targeted mortgages, which we’ve mapped. When comparing a map of the homes the city has targeted for assistance to a map of foreclosed properties in the city, one thing is clear: They’re pretty different.Read More
Last Night’s gathering at the Police Activities League was pegged as a “debate” on the pros and cons of the city’s plan to buy or seize 624 underwater mortgages.
But only the opponents’ spokesman showed up.
Richmond’s plan to seize underwater mortgages through eminent domain has come under sharp criticism. Opponents claim that the plan could depress property values, and end up costing the city millions of dollars in lost revenues and legal fees. The West Contra Costa Association of Realtors (WCCAR), which is receiving financial backing from the California Realtors…Read More