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 / Oak Ridge
5. Meadow Woods
Homebuyers can choose one of the following options
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.
Purchase foreclosed homes in NSP areas with your realtor and qualify for NSP
NSP homebuyer assistance of up to $20,000 of down payment including closing costs 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:
- Eligibility criteria and program requirements
- Homebuyer incentives and benefits
- How to apply for a NSP home
- Search our available homes