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DLA Piper Real Estate Litigation Alert – City Attempting To Seize Underwater Mortgages Via Eminent Domain: Constitutional Objections, Potential Investor Losses

The City of Richmond, California has commenced the process for taking by eminent domain hundreds of notes secured by mortgages on underwater residential properties owned by investors through residential mortgage backed securities (RMBS). This is the first time a government entity has implemented a...

underwater mortgage home