Here's an interesting story about a program in North Carolina designed to help government workers buy their first home. It's a great idea, and obviously the woman quoted in this article is overjoyed. I do wonder, however, why there is such an emphasis on government workers and not on people who might be more financially underprivileged. For example, government workers who make up to 65k would qualify for this plan. First Home Mortgages, on the other hand, sounds like a great idea and they cover all citizens with low income. Perhaps with the recent increase in mortgage defaults, home prices will continue to drop and citizens with low income (but good credit) will able to fulfill their dreams of owning a home.
Check it out at Mortgage Aid Efforts