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:
- Pine Hills
- Azalea Park
- Union Park
- Holden Heights/Oakridge
- 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:
- Eligibility criteria and program requirements
- Homebuyer incentives and benefits
- How to apply for a NSP home
- Search our available homes
