Under a plan approved by the
Richmond City Council in April,
Richmond can also use its eminent domain authority to purchase loans in order to modify them and allow families to avoid foreclosure and stay in their homes. Other cities are advancing similar bills, like Newark, New Jersey, and here in New York City.
Well, Richmond Mayor Gayle McLaughlin, who’s a member of the Green Party, remains with us now from Berkeley, California, to discuss this new way of addressing the foreclosure crisis.