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Transcripts For KGO ABC7 News 600PM 20130912

Opposition on the council. The vice mayor worries about lawsuits and reprizeals from banks. It lowers value of the properties in the city of richmond lending instit yult yoougss will not lend where youve taken and used eminent domain. Councilman baits is concerned its supposed to prevent blight in neighborhoods the investing partner targeted nicer homes. Theyre cherry picking. That is what they do. They cherry pick, pick out those that they can make greatest degree of profit its worth noting the councilmans underwater in his mortgage but does not want help. The same cannot be said for patty, who signed up for eminent doen domain if it ever happens, anything, she said to keep alive her dream of homeownership. We were rather eat rice and beans and tortillas to have our home here. Four people, including a child were injured when two cars collided in west oakland. The crash happened on 8th and union streets. Firefighters had to use jaws of live to rescue one person in a vehicle. A potentia ....

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Transcripts For KOFY ABC7 News On KOFY 7PM 20130912

Crisis is by no means over in one city. Yes. Homeowners still in dire straits, city leaders have a plan calling for drastic action, some are worried about the consequences. Wayne fraedman is live tonight to explain why. Wayne . Its a new twist for putting leverage on banks not by individuals this time, but by a city government. It would be a first. In richmond roughly half of the homes in the city are worth less than paid for them. By the time its the last week of march, of the month, were stretched. Patty and her husband paid 425,000 for this home, its now lost more than half of the value. Tonight she has hope. If the bank and wall street got bailed out how come we dont get bailed out . We call on bafrks to really dot right thing. After months, the city Council Voted to move head with possibly using Eminent Domain to buy underwater mortgages and with an
New York , United States , Mountain View , West Oakland , San Francisco , Salt Lake City , Menlo Park , Mount Diablo , Morgan Hill , Jim Harbaugh , George Zimmerman , Pa Tori , Trayvon Martin , Marisa Mayer , Shelly Zimmerman , Chris Stevens , David Hsu , Jerry Brown , David Louie , Mario Chavez , Daniel Van Fisher , Notre Dame Purdue , Brandon Bell , Christopher Stevens , Terrell Pryor , City Leaders ,