Comment on Richmond rebuffed in bid to buy loans using eminent domain threat

Richmond rebuffed in bid to buy loans using eminent domain threat

The mortgages aren't for sale, according to banks that service the loans or act as trustees.The city of Richmond recently asked financial institutions to sell 624 troubled mortgages — and threatened to seize them through eminent domain. Now the city has its answer: We can't help you.

 

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