Neighborhood Stabilization Program (NSP2)
NHS is helping low and moderate-income families become homeowners while revitalizing hard-hit neighborhoods. Through the Neighborhood Stabilization Program (NSP2), NHS and its consortium partners were awarded $60 million to purchase, repair and resell vacant and foreclosed single and multi-family homes
across 37 Los Angeles County zip codes most severely impacted by foreclosures. The program is expected to produce 500 new homeowners and impact more than 700 units of affordable housing.
The NSP2 program benefits households whose income is at or below 120 percent of area median income, with 25 percent of the funds for households at or below 50 percent of area median income. income qualified homebuyers
will be eligible to purchase the homes with downpayment assistance.
NHS is certified by the federal Housing and Urban Development, the City of Los Angeles and the County of Los Angeles to assist low and moderate-income families by providing classes in financial literacy, homeownership, and foreclosure prevention.
Foreclosure Prevention – Center for Foreclosure Solutions
Recognizing the threat foreclosures poses to our neighborhoods, NHS established The Los Angeles County NeighborWorks® Center for Foreclosure Solutions i
n 2007. The CFS is a coalition of government, financial institutions, consumer protection attorneys, housing counseling/development agencies, realtors and advocacy groups striving to find solutions to the growing problem of foreclosures.
Neighborhood Stabilization Program Reports