Key thing is that, the Judge only said that until it happens you have no case, so the legality of Richmond’s application of Eminent Domain hasn’t been tested yet. I expect it to fail.
From DS News
A federal judge in San Francisco has dismissed a lawsuit brought by BlackRock Inc and other asset management companies that sought to block the city of Richmond, California, from seizing underwater homes under eminent domain laws. The city council of Richmond had voted by a narrow margin to work with lawyers from Mortgage Resolution Partners LLC (MRP) to seize more than 600 properties under eminent domain in an effort to prevent foreclosure and blight. » Read More
- Sunil Sethi
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