The city of Richmond, devastated by the housing crisis, is pursuing a novel but iffy strategy to seize hundreds of mortgages by eminent domain. Not the homes, the mortgages.
The idea is to keep people in their homes. That helps the citizenry and the city’s coffers.
This case obviously has implications to Stockton. But it is complicated. Fortunately, the Washington Post has published a clear explainer. If you’re interested, it is here.