The City of Phoenix offers many services that are useful and necessary for its growth and its stability. Recently, Phoenix announced that it is  implementing the [1] Neighborhood Stabilization Program[2] (NSP) which addresses abandoned and foreclosed houses within the areas of greatest need. Expected to become available from the U.S. Depa[3] rtment of Housing and Urban Development in Spring, 2009, NSP funds will be used in a variety of ways, including down  payment or closing cost assistance for homebuyers to purchase foreclosed houses for use as their own residence.

[4] Homeownership presents new challenges and new opportunities in this economic climate, but many families have positioned themselves to be successful in this environment.

These homeowners have been careful with their credit, have stable work, they have savings accounts, and they view homeownership as a long-term wealth-building strategy for their family. These potential homebuyers are well positioned to take advantage of the numerous housing choices currently available, and NSP funds may be able to assist. [5]

Neighborhood partners you … or someone you know… may qualify for $15,000 in down payment and closing cost assistance to help buy an affordable foreclosed home anywhere in the City of Phoenix through the City’s Neighborhood Stabilization program (NSP) Home Buyer Assistance Program.

For more on what the City of Phoenix offers, be sure to check out the City’s link [6] here. The City offers a plethora of services available to those who seek it out.