The US Government has just pumped another $60 million to help deal with the foreclosure crisis in Phoenix. This is on top of the $39.5 million already given to the city. The money will help be given to buyers to help boost curb appeal, make their homes more energy efficient, and receive housing counselling. They also get a 3-Year home guarantee. It's no wonder the market is in a frenzy. With all these incentives put on by the government, it's almost better off walking away from your upside mortgage and go buy a new house, that is, provided your credit score hasn't been ruined.
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