Tag "Mortgage Resolution Partners"
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Will 'trapped loans' snag Richmond's home scheme?
phone spy software The City of Richmond's move to seize the loans of over-mortgaged homes can continue, U.S. District Court Judge Charles Breyer ruled this week. According to the San Francisco Chronicle, the reason was because “he felt the
Read MoreNew public funding plan: Seize home mortgages
June 7, 2013 By Wayne Lusvardi With pension costs sapping budgets, governments at all levels are coming up with novel funding methods. The latest comes from the city of Richmond, which must deal with a looming 50 percent increase in pension
Read MoreCalPERS seeks to be new California ‘Octopus’
Dec. 17, 2012 By Wayne Lusvardi In 1901, Frank Norris wrote a novel, “The Octopus: A Story of California.” The book became famous for its description of the monopolistic Southern and Pacific Railroad that dominated California a century ago. Fast-forward to
Read MoreSan Bernardino will try to hammer ‘Nail House’ loans in 2013
Dec. 3, 2012 By Wayne Lusvardi What are called “nail houses” in China may be coming to the county of San Bernardino in 2013 by using eminent domain as a bail out from unfunded public pension debts. The photo at
Read MoreBacklash bill would block eminent domain for underwater mortgages
Sept. 14, 2012 By Wayne Lusvardi Will Americans be protected from eminent domain abuses? Eminent domain is where the government takes someone’s property, usually for a government purpose, such as building a school or road. But sometimes eminent domain is
Read MoreShould San Berdoo cherry pick underwater mortgages?
July 13, 2012 By Wayne Lusvardi What a ripoff. San Bernardino County wants to use eminent domain to let a private mortgage lender cherry pick “underwater” mortgages without paying damages to the lenders. Doing so supposedly would stimulate the resale
Read MoreCounty, city mortgage grabs could spark new housing crisis
June 21, 2012 By Wayne Lusvardi In San Bernardino, the county has approved using eminent domain to seize bank-owned pools of “underwater mortgages” to get the county out of its over-indebted housing stagnation. The city of San Bernardino has the second highest poverty rate in
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