[IHHAAC Update] FYI - Neighborhood Stabilization Program (NSP) - Remaining Seminars Jan 28 & Jan 29

[IHHAAC Email Newsletter]

FYI

Compliments of Council Member Tony Knotts

www.princegeorgescountymd.gov/district8 

 

 

Please see information below for details:

 

 

 

 

 

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Neighborhood Stabilization Program - Seminar Series

 

A series of Free Seminars are scheduled throughout the month of January
at libraries in Prince George's County.  The Seminars are designed to
inform the public about the Neighborhood Stabilization Program (NSP).
Some Seminars will be co-hosted by members of the Prince George's County
Council at the libraries in their respective Council manic Districts.

 

Prince George's County will receive $10.8M from HUD under the Housing
and Economic Recovery Act of 2008 (HERA).  This program administered by
HUD is to aid in the purchase of foreclosed or abandoned homes and to
redevelop these homes in order to stabilize neighborhoods and stem the
decline of house values.

 

HUD guidelines stipulate that the funds cannot be used to help
homeowners currently in distress and facing foreclosure.  Prince
George's County will use the funds to provide Down Payment and Closing
Cost Assistance to qualified homebuyers of Foreclosed Homes.

 

Qualified homebuyers will receive 3.5% of the sales price in Down
Payment and Closing Cost Assistance from the County.  Purchasers buying
in one of the 12 designated Targeted Areas and "Workforce Housing"
Purchasers  will receive 7%.  If the Purchaser remains in the home for
10 years, they do not have to repay the County.

 

Real Estate Professionals and Lenders certified by the County under the
CDA Program will be on hand along with the County Officials to answer
questions about the Neighborhood Stabilization Program.

 

 

 REMAINING SEMINAR SCHEDULE

 

Greenbelt Library         - January 28th - 6-8 p.m.

Surratts/Clinton Library-January 29th - 6-8 p.m.

 

 

Contact:

Brian Austin

Royal Realty

1703 Willow Oaks Court

Mitchellville, MD  20721

(O)     301-350-3333

(Fax)  301-560-5524

Email: Brian at RoyalRealtyUS.com

 



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