Neighborhood Stabilization Program (NSP)

The Neighborhood Stabilization Program (NSP) is a U.S. government initiative aimed at revitalizing communities affected by foreclosure and economic distress. Launched in response to the 2008 housing crisis, NSP provides funding to local governments and nonprofit organizations to purchase and rehabilitate foreclosed properties. The goal is to stabilize neighborhoods, improve property values, and provide affordable housing options. By addressing abandoned or neglected homes, the program helps rebuild communities and supports residents in need of safe, affordable living spaces. Overall, NSP seeks to foster stronger, more resilient neighborhoods.