An article today in the Potomac News stated that Prince William County supervisors have unanimously backed a plan to help county employees buy foreclosed homes.
Officials say the program would help address both problems from foreclosures and a lack of affordable housing. They say it would cost the county almost nothing.
Under the program, a county employee would select a house to buy and make arrangements with a bank participating in the program. The county would buy a 10 year certificate of deposit that the bank would use to fund the mortgage and provide the buyer a lower interest rate.
Many details of the program remain to be worked out, however. If you are interested in purchasing a foreclosed home, we are experts. Please contact us at 703.791.3884.
Thursday, May 29, 2008
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