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What is the Neighborhood Stabilization Program?

The Neighborhood Stabilization Program (NSP) was created by the Housing and Economic Recovery Act of 2008 to respond to rising residential foreclosures and property abandonment. The main purpose of the NSP is to stabilize neighborhoods negatively impacted by foreclosures. Orange County will use NSP funds to acquire, renovate, and sell foreclosed homes at affordable prices to eligible families.

What areas qualify under the NSP?

In order to have the most positive impact on neighborhoods hardest hit by foreclosures, five geographical areas were selected to participate in the NSP program for home purchase and mortgage assistance. They are the following:

  1. Pine Hills
  2. Azalea Park
  3. Union Park
  4. Holden Heights/Oakridge
  5. Meadow Woods

Homebuyers can choose the following to purchase foreclosed homes under NSP

Buy foreclosed homes that have been purchased by the County and completely renovated. These homes will be equipped with Energy Star appliances. NSP homebuyer assistance of up to $20,000 including closing cost will be available based on eligibility.

Wondering how to purchase a home under the NSP program?

For more information view How to Purchase where you will find that the following topics are covered in detail:

  1. Eligibility criteria and program requirements
  2. Homebuyer incentives and benefits
  3. How to apply for a NSP home
  4. Search our available homes