Federal Funding Used to Put Foreclosed Homes Back in Circulation in Virginia

Program helps first-time home buyers purchase foreclosed homes

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    NEWSLETTERS

    TK
    ASSOCIATED PRESS

    FAIRFAX, Va. -- Northern Virginia counties hard hit by foreclosures are getting millions of dollars in federal funding.

    The Fairfax County Board of Supervisors approved the Silver Lining Plus program, which will help first-time home buyers purchase foreclosed homes.

    The program will use $2.8 million in federal funds to help put 140 foreclosed homes back into circulation.

    Virginia Uses Federal Funds to Put Foreclosed Homes Back in Circulation

    [DC] Virginia Uses Federal Funds to Put Foreclosed Homes Back in Circulation
    Northern Virginia counties hard hit by foreclosures are getting millions of dollars in federal funding.

    The program also will allow non-profit groups to buy foreclosures with low interest rates. They will then rent the units to low-income residents.

    Prince William County is developing a similar program with $4.1 million.