Tag "underwater mortgages"
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Richmond pols continue posturing on underwater mortgages
A majority of the Richmond City Council still wants to use eminent domain powers to to seize “underwater mortgages” even though the bond market refused to sell $34 million in municipal bonds for the city last year due to Richmond
Read MoreSustainability ideology invented a stagnant California Dream
July 23, 2012 By Wayne Lusvardi When did the California Dream begin? Peter Huck, a refugee journalist from Los Angeles to New Zealand, has an answer. He writes in the July 20 issue of the New Zealand Herald newspaper “Sustainability
Read MoreEminent domain mass delusion hits San Berdoo
July 16, 2012 by Wayne Lusvardi A few hundred years ago there was the famous Dutch Tulip Mania of 1637. It was followed by the South Sea Bubble of 1711 and the Mississippi Company Bubble of 1719. In modern times,
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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