The Neighborhood Stabilization Program (NSP) provides targeted emergency assistance to state and local governments to acquire and repair foreclosed properties that might otherwise become abandoned and blight.
The City of Stockton is proposing to use $12.1 million of NSP funds allocated by HUD to:
HUD set income maximum at 120 percent of area median income.
In Stockton, that means $75,700 for a family of four.
The Neighborhood Stabilization Program also seeks to protect future homebuyers by requiring new homebuyers using this program obtain a mortgage loan from a lender who agrees to comply with sound lending practices.
For further information regarding the purchase of a foreclosed home, contact any of the following non-profit developers below:
Service First of Northern California at (209) 644-6300
S.T.A.N.D. at (209) 937-7625
Villa Real at (209) 460-5024
Visionary Home Builders of California at (209) 466-6811
In conjunction with the Neighborhood Stabilization Program (NSP), the City will provide financial assistance to qualified home buyers to help with down payment costs.
Basic terms of the program include:
For more information, please contact the Housing Division.
This City of Stockton web page last reviewed on --- 5/12/2015