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Prince William County (web|news) supervisors have unanimously backed a plan to help county employees buy foreclosed homes.
The proposal was seen as a single solution to two problems: putting an end to the foreclosure crisis and providing affordable housing to critical county workers.
The county has the highest number of foreclosures of any Virginia jurisdiction.
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.
Prince William County police officer Tony Abdallah sees the irony. Officers must check on the growing number of vacant foreclosure homes, places that would be perfect for public safety workers, like him.
"I think this would be a great home," said Abdallah.
Prince William County leaders are considering having the county offer mortgages to entry-level police officers, firefighters and teachers.
"Law enforcement, teacher, anyone who has a job that has a family. If they make it affordable for everyone that's the most important thing," said homeowner Curtis Pereira.
Resident John Roy says it would be a nice change to have the police here as residents, instead of investigating crimes in the empty homes.
"See that house up there. The weeds up there. The county's got to mow that and there's probably 2,000 or 3,000 of them in the county like that, and if we could get that problem fixed that would help all of us," said Roy.
A recent study shows each foreclosed home costs the county almost $30,000, money that could be invested in the low-cost mortgage program.
Frank Thorlton, who has lived in his home almost 50 years, says the plan can preserve communities that are in danger of ruin.
"I think they are going to have to be occupied or the neighborhood's going to go downhill, and I don't want to see that happen," said Thorlton.
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