Buying Foreclosed Homes - Neighborhood Stabilization Program (NSP)

Housing & Urban Development (HUD) has provided funding to several Cities and Counties to help homebuyers purchase foreclosed properties and stabilize neighborhoods.

This program assists buyers with the purchase and repair of foreclosed homes in the Counties of Kings, Madera, Merced and Tulare.

A foreclosed/Real Estate Owned (REO) home has been through the foreclosure process and is now for sale by a bank or lending institution.

Assistance is available as secondary financing for up to 49% of the purchase price as a no-interest, no payment, 45 year term loan.

Homes must be purchased at 1% below appraised value.

How to Apply
Income Limits
What happens after I apply?
Where do I find Foreclosed Homes?
Frequently Asked Questions
Target Areas (Eligible Areas for selection of homes)
Lender Cover Letter (to be completed and submitted by primary lender)


Contacts

Contact Maria Gonzales at (559) 802-1643 or
for information on the Neighborhood Stabilization Programs in:

• County of Madera
• County of Merced

Contact Melissa Looney (559) 802-1649 or
for information on the Neighborhood Stabilization Programs in:

• County of Kings
• County of Tulare