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NHC helps lead a task force focused on preventing foreclosures and stabilizing neighborhoods across the U.S. In the summer of 2008, this task force assisted in the inclusion of $3.92 billion in funding for the Neighborhood Stabilization Program (NSP) through the Department of Housing and Urban Development (HUD) in the "Housing and Economic Recovery Act of 2008."
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This program allocated funding to eligible state and local grantees to help stabilize communities during the foreclosure crisis. Additionally, the task force played a crucial role in securing an additional $2 billion for NSP in the "American Recovery and Reinvestment Act of 2009." Unlike the initial program, this round of funding provided assistance to state and local units of government, nonprofit organizations and consortia of nonprofit organizations. For more information about the initiatives of this task force, please view the Sign-On Letters below. Additionally, you can visit this Resource Guide available on NHC's "Open House" Blog. |