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September 12, 2013
Calif. city expands plan to seize home mortgages
RICHMOND, Calif. (AP) — A San Francisco Bay Area city voted Wednesday to try to expand a first-in-the-nation plan to use its power of eminent domain to seize hundreds of mortgages that exceed the value of homes.
The Richmond City Council voted 4-3 to set up a joint powers authority to bring more cities into the plan, according to reports in local media.
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