HUD Releases Notice on Neighborhood Stabilization Program – October 1, 2008

On September 29, 2008, HUD released a Notice outlining the procedures under which the new Neighborhood Stabilization Program (NSP) for foreclosed or abandoned properties will operate. The Notice is effective immediately. In it, HUD explains that it is treating NSP funds as an FY2008 “special allocation” of Community Development Block Grant (CDBG) funds and specifies the ways in which NSP requirements will and will not differ from CDBG requirements. The Notice also includes a listing of allocations by state and locality nationwide.

  • CHAPA’s Summary of the Notice can be read here.
  • For HUD’s description of the program and a list of allocations, please click here.
  • Please click here to view the full text of the Notice.

HUD Releases Notice on Neighborhood Stabilization Program – October 1, 2008

On September 29, 2008, HUD released a Notice outlining the procedures under which the new Neighborhood Stabilization Program (NSP) for foreclosed or abandoned properties will operate. The Notice is effective immediately. In it, HUD explains that it is treating NSP funds as an FY2008 “special allocation” of Community Development Block Grant (CDBG) funds and specifies the ways in which NSP requirements will and will not differ from CDBG requirements. The Notice also includes a listing of allocations by state and locality nationwide.

  • CHAPA’s Summary of the Notice can be read here.
  • For HUD’s description of the program and a list of allocations, please click here.
  • Please click here to view the full text of the Notice.

Obama Administration Announces New Details on Making Home Affordable Program – April 28, 2009

WASHINGTON – The Obama Administration today announced details of new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program, including an effort to achieve greater affordability for homeowners by lowering payments on their second mortgages as well as a set of measures to help underwater borrowers stay in their homes. Please click here to view the full press release.