In 2005, Rodney Conway and his wife, Vicki, paid $340,000 for their 950-square-foot two-bedroom home in Richmond, California, a blue-collar city in the Bay Area. Today the home is worth about $140,000 ...
The city of Richmond, Calif., has offered to purchase 624 home loans from mortgage servicers and trustees and is moving forward with a plan to restructure the underwater loans or potentially seize ...
Maybe this week’s US financial market volatility isn’t just about the Fed tapering its bond-buying program and China’s slowdown. Here’s why: the odds just increased that US municipalities will use ...
About 1000 homes are "underwater" in the City of El Monte. That means the owners owe more on their mortgages than their houses are worth. Now city officials may go the way of Richmond, up in the San ...
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