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Posts Tagged with "Joint Powers Authority"

Richmond’s Neighborhood Stabilization Plan moves forward against realtor opposition

December 27, 2013

At its last meeting of 2013, by a vote of 4-2, the Richmond City Council moved further along on its plans to stabilize our neighborhoods by restructuring the mortgages of underwater homeowners. Under the plan, mortgages would be reduced to a reasonable level that reflects their current value, which will give underwater homeowners some equity in the home and mortgage payments they can pay.

Richmond homeowners beat Wall Street bullies 4-3

September 14, 2013

Tuesday night, Sept. 10, the Richmond, California, City Council held a meeting packed with hundreds of community members who rallied to defend the Richmond CARES principal reduction plan that has inspired hope nationwide and a Wall Street-led campaign of threats, litigation and a deceptive election-style effort to sway public opinion. The City Council voted 4-3 to form a Joint Powers Authority to enact local principal reduction.

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