Finance Info Blog Mortgage and Financial information

7Aug/130

Freddie Mac may sue California city on eminent domain loan seizures

WASHINGTON - Freddie Mac , the government-owned mortgage finance company, on Wednesday said it is considering legal action against Richmond, California, if the city uses eminent domain to seize mortgages of local residents who owe more than their properties are worth in a bid to keep them in their homes.

reuters.com

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