Calif. City Proposes Unique Plan To Avoid Foreclosures
By: Richard Gonzales
September 12, 2013
A federal judge in San Francisco on Thursday hears arguments over a radical plan to stem the foreclosure crisis. The City of Richmond is proposing to buy underwater mortgages in order to help keep local residents in their homes. If banks don't want to sell those mortgages, the city says it is prepared to invoke eminent domain to seize the mortgages.
Democrats and Republicans in Virginia are at odds over the value of investigating the state Senator Phil Puckett, who resigned last month to take a job at a state tobacco commission — and turned the Senate over to Republicans.
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