Communities across the country have been severely impacted by mortgage foreclosures and declining property values.  In response, Congress passed the Housing and Economic Recovery Act of 2008 which funded the Neighborhood Stabilization Program (NSP) to help revitalize and stabilize impacted communities. The purpose of NSP is to provide targeted assistance to state and local governments to acquire and redevelop foreclosed homes and residential properties that might otherwise become sources of blight within their communities.

Through the NSP, HUD has allocated $3.92 billion to communities nationwide of which $5,795,151 was allocated to the City of Santa Ana.  As a part of the City’s NSP, the City will be implementing new affordable homeownership programs for the purchase of foreclosed and abandoned homes.