Community spokesperson: As a result of a recent surge of foreclosures, many homes in our town are vacant and falling into disrepair. Property values have already plummeted and, unless preventative action is taken, will likely continue to plummet as panicked residents, fearing a further decline in the value of their homes, begin to leave town. To prevent this snowball effect, the town should encourage potential buyers to purchase the vacant homes by offering special mortgages with low interest rates
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