And then we’re working with the homeowners to refinance and modify
loans in line with current home values. We call on the banks to voluntarily sell us these
loans, and if they don’t cooperate, we will be considering eminent domain.
AMY GOODMAN:
As President Obama heads to Phoenix today to talk about housing, I want to turn now to how Richmond, California, is tackling its foreclosure crisis. Almost half the city’s residential mortgage holders are underwater.