Sign Up For Novogradac Industry Alert Emails

HUD BROADENS NEIGHBORHOOD STABILIZATION PROGRAM DEFINITIONS

Friday, April 2, 2010 - 6:00AM

HUD announced that its definitions of foreclosed and abandoned properties will now include those in mortgage default as well as uninhabitable homes with lingering code violations for the purposes of the Neighborhood Stabilization Program (NSP). HUD expects that the increased number of NSP-eligible properties will help grantees from the first round of grants obligate the funds by the September 2010 deadline. NSP grants are awarded to hard-hit communities to help them purchase, rehabilitate and resell foreclosed and abandoned properties.

Learn more about Novogradac's expertise and many services