The fight between the City of Richmond, Calif. and 624 mortgage lenders continues, as the city attempts to obtain the loans through eminent domain.
The cities of San Bernadino, Calif. and North Las Vegas, Nev. have also said they might use eminent domain to purchase and refinance mortgages, but both backed off in the face of strong opposition from lenders and realtors.
Currently the Richmond program, dubbed Richmond Community Action to Restore Equity and Stability, is in an effective administrative limbo.
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