One of the least talked about programs that is available to help people purchase a home in Oregon is the Neighborhood Stabilization Program (NSP). Because I want people to know the programs that are out there, I have spent a lot of time on the First Time Home Buyer Tax Credit . This is because it helps people that have bought their first home make some fix-its happen and gives them a cushion against emergencies. So, I am surprised when I find out that a particular program designed to help the housing industry is not played up as much as I feel it should be. So, here I am shouting from the rooftops!!! This program is a part of the Economic Stimulus Plan passed by Congress several months ago, but is just now being implemented. Through NSP, Dept. of Housing and Urban Development funds, are available to qualified home buyers up to $50,000. The loan requires no monthly payments and charges no interest. These proceeds can be used for down payment and towards paying closing costs when purchasing bank owned properties in eligible areas throughout Oregon and the US. Each municipality, like Eugene and Springfield, that are managing their share of the funds, may make their own specifics.

Original Source OREGON Neighborhood Stabilization Program up and running