A year after Richmond grabbed national headlines for trying to use social impact bonds to restore abandoned homes, only one such property has been rehabbed and one other is in the process of being restored, underscoring the deep challenge of working on neglected properties tied up with liens and unpaid taxes. Last year, the Richmond Community Foundation announced a plan to have the city issue bonds, sell them to a bank and use the proceeds to restore up to 100 homes in an effort to revitalize neighborhoods and boost property values.

Foreclosure News



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