Neighborhood Stabilization Program (NSP) funds are helping communities hardest hit by foreclosures put foreclosed and abandoned properties back into productive use, stabilizing neighborhoods and offering homeownership to families that might not otherwise have the opportunity to own their own home.
The city of Phoenix has received more than $115 million in HUD NSP grant funds from the Housing and Economic Recovery Act of 2008 (HERA), the American Recovery and Reinvestment Act (ARRA) and the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). Funding from the three grants is expected to address more than 2,400 foreclosed housing units; turning them back into sustainable homes.
2012 Congressional Briefing Booklet - NSPLearn about strategies and methods used to help stabilize Phoenix neighborhoods during foreclosure crisis
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