NEIGHBORHOOD STABILIZATION PROGRAM FUNDS AVAILABLE
Now is your chance to take advantage of the funds made available for home purchases through the Neighborhood Stabilization Program.
What is Neighborhood Stabilization Program (NSP)?
The U.S. Department of Housing and Urban Development’s (HUD) new Neighborhood Stabilization Program (NSP) provides assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The NSP provides grants to every state and certain local communities to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. For the State of Delaware NSP, HUD provided $19.6 million to Delaware State Housing Authority (DSHA). DSHA, in turn, has allocated funds from the $19.6 million to local jurisdictions through a competitive process based on need and on each applicant’s proposed impact statewide.
There are currently 37 properties in Sussex County that qualify for this program. The properties range from $15,000 to $749,000 in price. There are properties in The Peninsula, Lewes Beach, Rehoboth Beach, The Villages at Five Points and other areas.
If you have been waiting for a bargain, NOW IS THE TIME!! Call Connie Cooper at Cooper Realty Associates 302 841-4185. I am very knowledgeable about how this program works, and I can help you every step of the way.