Posts Tagged ‘Mortgage Resolution Partners’
Foreclosure prevention program may not assist those most in need
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 MoreEminent domain firm defends against Wall Street charges
As critics point out, the people behind Mortgage Resolution Partners bear some striking similarities to the Wall Street bankers they’re ostensibly fighting. Chairman Steven Gluckstern says that although all three of the firm’s partners have worked for financial institutions in various capacities, none of them have any connection to the mortgage-backed securities that created the financial crisis of the mid-2000s.
Read MoreLawsuit against Richmond’s eminent domain plan dismissed
Richmond notched a victory in its effort to use eminent domain to seize underwater mortgages on Monday, as a federal court dismissed a lawsuit filed by Wells Fargo and Deutsche Bank against the city. U.S. District Judge Charles Breyer wrote that the case is not “yet ripe for adjudication.” In other words, the banks can’t…
Read MoreDetails emerge about mortgages chosen for Richmond’s eminent domain scheme
Richmond’s unprecedented plan to help homeowners refinance their mortgages has sparked a national debate about the use of eminent domain, but until now officials haven’t shed much light on how they selected the list of 624 mortgages.
Read MoreMotion to kill Richmond’s eminent domain plan fails
Vicky Conway says she is stuck in a loan she can’t afford. She and her husband Rodney Conway bought a home in northeast Richmond in 2004 and, like many of the city’s residents, the couple’s home is “underwater,” meaning the amount they owe exceeds the market value of the house. “I know that we’re not…
Read MoreCouncil hears plans from Marin Clean Energy, foreclosure solutions firm; runs short on time
The Marin Energy Authority presented to the city council Tuesday night a plan to educate Richmond residents about their choices in switching to a new renewable electricity source. The nonprofit energy corporation plans to hold a series of meetings at neighborhood council meetings and houses of worship.
Read More