Neighborhood Stabilization Programs (NSP1, NSP2 and NSP3)
The city of Phoenix received a total of $115.5 million in Neighborhood Stabilization Program (NSP) funds to help stabilize Phoenix neighborhoods impacted by the foreclosure crisis. NSP homeownership programs offer $15,000 loans for down payment and closing costs and up to $40,000 for repairs of foreclosed homes in select ZIP codes. No payments, zero interest. Approximately $39.5 million is reserved for the acquisition and rehabilitation of foreclosed multi-family apartment communities to create or preserve affordable rental units (at or below 50 percent area median income) and/or eliminate blighting conditions.
Foreclosure Prevention and Housing Assistance
Phoenix is actively addressing the challenges of the foreclosure crisis. Learn about the various resources that will help you deal with a foreclosure situation whether you are a homeowner, a concerned resident or a prospective homebuyer. Included is information on how to contact a lender, what information to provide and a list of Phoenix counseling agencies that can help you through a foreclosure case. Programs also are available for residents needing rental housing assistance and guidance to homeownership opportunities.