Texas Neighborhood Stabilization Program (NSP)
Down Payment Assistance
As required by the U.S. Department of Housing and Urban Development, the Texas Department of Housing and Community Affairs has announced the opening of a 15-day, public comment period for an amendment to the State of Texas Federal Fiscal Year (FFY) 2010 Action Plan. As part of the overall guidelines leading the State’s consolidated preparation process, the Amendment is necessary. The Amendment is submitted in compliance with 24 CFR 91.520, Consolidated Plan Submissions for Community Planning and Development Programs, as modified by the Federal Register Notice (Docket No.FR-5321-N-03). The 15-day public comment period began May 11, 2012 and continued until 5:00 pm on May 25, 2012. NSP3 Substantial Amendment 3 (PDF)
NSP1 Program Income Reservation System
The Texas Neighborhood Stabilization Program recently announced the availability of approximately $13 Million provided by the Revised NSP1- Program Income NOFA. Eligible Organizations are allowed to apply for access to the NSP1 Reservation System. As soon as eligible organizations are approved, funds will be made available on a first-come, first-served basis for projects that meet the programs qualification requirements. Approval to access the NSP1 Reservation System will be valid through February, 2013.
NSP Wildfire Relief
Recovery resources are being provided through the Texas Neighborhood Stabilization Program and TDHCA’s HOME Division to assist Texas communities that have been impacted by wildfires. Submission of the consolidated application will allow sub-recipient entities to access funds from either source, in order to best serve their community’s needs. Further information and the application form are available on the HOME Disaster Relief page. Use of NSP Funds will be governed by the NSP1 Program Income NOFA (PDF).
The Neighborhood Stabilization Program (NSP) is an HUD-funded program governed by the “Housing and Economic Recovery Act of 2008” (HERA), as a supplemental allocation to the Community Development Block Grant (CDBG) Program. The program has received additional funds from the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) as part of NSP3. The Neighborhood Stabilization Program was designed to obtain and redevelop foreclosed properties that might otherwise become sources of neglect and ruin. NSP supplies funds to acquire foreclosed, vacant or abandoned homes and residential properties, in order to renovate, resell, or redevelop them, stabilize the neighborhoods and put a stop to the decline of property values in communities impacted by the housing crisis.
- The NSP1 Substantial Amendment to the State of Texas 2008 CDBG Action Plan for the Neighborhood Stabilization Program
- The NSP3 Substantial Amendments to the State of Texas 2010 CDBG Action Plan for the Neighborhood Stabilization Program
If you have any additional questions regarding home mortgages, please contact a mortgage expert by filling out the form on the right or calling (512) 524-8077. You can also email Team@CandyBuzan.com.