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Litigation

Sep. 14, 2013

Judge says it's too soon to decide legality of city's mortgage seizure plan

Now is not the time to decide whether the city of Richmond can go through with a novel plan to seize 624 underwater mortgages using eminent domain, a federal judge ruled Thursday.


By Hadley Robinson


Daily Journal Staff Writer


SAN FRANCISCO - Now is not the time to decide whether the city of Richmond can go through with a novel plan to seize 624 underwater mortgages using eminent domain, a federal judge ruled Thursday.


U.S. District Judge Charles R. Breyer denied a motion led by Wells Fargo Bank and Deutsche Bank National Trust Co. for a preliminary injunction on the plan because the invocation of eminent domain to take...

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