Neighborhood Stabilization Program (Recovery Act Funded)

Objective

Neighborhood stabilization through acquisition and rehabilitation, land banking, disposition, or demolition of abandoned and foreclosed residential property. Also, to develop viable urban communities, by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for persons of low and moderate income.

Who Can Apply

• Homeowner

.Establish financing mechanisms (down-payment assistance) for low- to moderate-income homebuyers. Purchase and rehabilitate foreclosed or abandoned homes. Create and operate land banks to manage vacant properties. Demolish blighted structures to prepare for redevelopment.

Who Benefits

• Low Income

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Assistance Types

• Grant

Program Contact

James.E.Hoeman@hud.gov
(202) 708-3587