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HUD allocates nearly $4 Billion to stabilize neighborhoods in high foreclosure rate areas
October 3, 2008 by admin

U.S. Housing and Urban Development Secretary, Steve Preston, has allocated a total of $3.92 billion to all states and particularly hard-hit areas trying to respond to the effects of high foreclosures. HUD’s new Neighborhood Stabilization Program (NSP) will provide targeted emergency assistance to acquire and redevelop foreclosed properties that might otherwise become sites of abandonment and blight within their community. Read more at: www.mortgagepress.com

This entry was posted on Friday, October 3rd, 2008 at 11:56 am and is filed under Mortgage Loan Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.