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Foreclosure Crisis

If you're buying a home for the first time in Maryland, you're in luck with some extra assistance from the Maryland Mortgage Program TriplePlay Initiative. The new $100 million mortgage initiative will provide up to $20,000 toward a down payment and closing costs for around 500 qualifying homebuyers. To qualify, the homebuyer must have either never previously owned a home, or have not owned a home for the past three years, or must be buying a property in Capitol Heights, Upper Marlboro, or Lanham. The purpose of the initiative is to encourage more homeownership in Prince George's County since it was affected by the foreclosure crisis. [WBJ]