No.Va. mortgage plan could mean cheap housing for police, firefighters
Monday, May 19, 2008 - 06:34 AM
MANASSAS -- Prince William County may have a single solution to two problems: The large number of county employees who can't afford to live there, and the large number of unoccupied homes on the market.
The county has the highest number of foreclosures of any Virginia jurisdiction.
Under the proposal expected to presented tomorrow to county supervisors, the county government would invest up to $25 million in certificates of deposit at a bank. The proceeds would be used to offer mortgages primarily to entry-level police and firefighters.
The employees could buy foreclosed homes or others on the market.
-- The Associated Press


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