Neighborhood Stabilization Program


For questions or more information, please contact

Debbie Parra
Grants and Projects Analyst
775-687-2041

Foreclosure Mitigation

Neighborhood Stabilization Program


Current Status, August 2014:  No new funding is available to fund NSP projects.  Only project administration work continues at this time.  For information regarding mortgage counseling, click the link to counselor contact information located on the right side of this page under Foreclosure Mitigation.  For mortgage assistance and reinstatement assistance, call the Nevada Hardest Hit Fund at 855-428-4357 or access their website at www.nevadahardesthitfund.nv.gov

 

The Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized. NSP1, a term that references the NSP funds authorized under Division B, Title III of the Housing and Economic Recovery Act (HERA) of 2008,

provides grants to all states and selected local governments on a formula basis.

NSP3, a term that references the NSP funds authorized under the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of 2010, provides a third round of neighborhood stabilization grants to all states and select governments on a formula basis.

NSP funds may be used for activities which include, but are not limited to: 

  • Establish financing mechanisms for purchase and redevelopment of foreclosed homes and residential properties; 

  • Purchase and rehabilitate homes and residential properties abandoned or foreclosed;
  • Establish land banks for foreclosed homes;
  • Demolish blighted structures;
  • Redevelop demolished or vacant properties

    NSP 1

    NSP 3