Can Quicken Loans save Detroit?

Can Quicken Loans save Detroit?

Forbes: “Dan Gilbert is saving Detroit to help his business”

Suspect arrested in case of missing Arkansas Realtor

No word on Beverly Carter; suspect is on parole for theft

Monday Morning Cup of Coffee: Love or loathe – Reverse mortgages, Holder’s legacy

Plus, a week of critical housing and mortgage finance metrics ahoy
W S
Investments / The Ticker

Court derails BlackRock's attempt to block eminent domain

money clock
/ Print / Reprints /
| Share More
/ Text Size+

A judge ruled this week that BlackRock's (BLK) request alongside other bond holders for a court order to block a plan by Richmond, Calif., to  seize underwater mortgages using eminent domain came too early. Bloomberg has more on the decision, which effectively creates a new hurdle for opponents of the plan—all of whom want the issue handled before eminent domain actually takes effect.

U.S. District Judge Charles Breyer in San Francisco held a 40-minute hearing today on whether to order the city to halt efforts to use eminent domain to take over loans.

“If they implement the program, which would include eminent domain, then that’s the time for the court to take a look at it,” Breyer said at the start of the hearing. He said he will issue a ruling on Sept. 16 on whether to dismiss the case or put it on hold.

Source: Bloomberg
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus