Monday, August 8, 2022
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Tags Richmond’s Neighborhood Stabilization Plan

Tag: Richmond’s Neighborhood Stabilization Plan

Richmond’s Neighborhood Stabilization Plan moves forward against realtor opposition

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.
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