Neighborhood Stabilization Grants |

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Neighborhood Stabilization Grants

By Jillian Wheeler | March 26, 2009

Last year’s Title III of the Housing and Economic Recovery Act of 2008 created a new program that holds some great possiblities for real estate investors and developers, both for-profit and non-profit.

It’s called the Neighborhood Stabilization Program, and it funnels money from the federal government to states and local governments, to allow communities to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes.

Essentially, that means our states and local governments have an additional, very healthy infusion of cash to create grant programs in which investors and developers can participate. The new funds will be included in Community Development Block Grant allocations. Each state and city that receives CDBG money has a process in place through which community members provide input as to the needs of the community. These particular funds will be earmarked just for housing.

State and local housing officials are designing these new programs now, and the grant funding should be available soon.

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www.GrantMeRich.com/classes.htm

Best of all, if you act now, you’ll receive an immediate 20% refund on the price!

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