Neighborhood Stabilization Program

PROGRAM DESCRIPTION

The City of Toledo received grant funds through the Neighborhood Stabilization Program (NSP). The NSP funds have been spent to acquire vacant and foreclosed properties for rehabilitation and subsequent sale to qualified homebuyers. The NSP will stem the rising foreclosures and declining property values in the city of Toledo. Please click here for additional NSP Guidelines.

OBJECTIVE

NSP funds have been spent in three stipulated need categories that include areas with greatest percentage of home foreclosures, areas with highest percentage of homes financed by sub prime mortgage-related loans, and areas identified as likely to face a significant rise in the rate of home foreclosures. Prospective homeowners will be required to attend and complete an eight-hour homeownership training session organized by a qualified HUD approved counseling agencies. Prospective homebuyers must obtain mortgages from local NSP participating lending institutions. Please click here for CRA information.

If you are interested in a list of available NSP Properties click here or contact the Department of Neighborhoods at 419.245.1400.