According to The Washington Post ( July 1, 2008), Fairfax County approved a landmark housing program June 30, 2008 yesterday to buy foreclosed properties for middle-income families, becoming one of the first communities in the country to tackle the nation’s growing mortgage crisis while also addressing the region’s increasing demand for affordable housing.

County leaders said the program, through which Fairfax will purchase some properties outright and help families buy others through subsidized loans, takes advantage of a unique moment when thousands of homes are entering foreclosure and available for purchase at below-market prices. The program will expand the county’s stock of affordable housing and help stabilize areas where clusters of abandoned, unkempt properties in foreclosure threaten the value and vitality of surrounding neighborhoods, county officials said. 

Loudoun County is also considering a program that would allow county employees, including firefighters, teachers and deputies, to get a low-interest loan with which to purchase foreclosed homes in the easternmost portion of the county.

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