HUD approves $29.9 million neighborhood stabilization plan for Oklahoma - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

HUD approves $29.9 million neighborhood stabilization plan for Oklahoma

Oklahoma City_Press Release_U.S. Housing and Urban Development Secretary Shaun Donovan today announced the approval of the State of Oklahoma's plan to use its $29,969,459 allocation under HUD's new Neighborhood Stabilization Program (NSP).

HUD's Neighborhood Stabilization Program was created under the Housing and Economic Recovery Act of 2008 and provides nearly $4 billion to all 50 States, Puerto Rico, the District of Columbia and 250 cities and counties experiencing particularly high foreclosure problems and risk of property abandonment.  The program permits these State and local governments to purchase foreclosed homes at a discount and to rehabilitate or redevelop them in order to respond to rising foreclosures and falling home values.  

State and local governments can use their neighborhood stabilization grants:

  • To acquire land and property;
  • To demolish or rehabilitate abandoned properties;
  • And/or to offer downpayment and closing cost assistance to low- to moderate-income homebuyers (household incomes not to exceed 120 percent of area median income).

In addition, these grantees can create "land banks" to assemble, temporarily manage, and dispose of vacant land for the purpose of stabilizing neighborhoods and encouraging re-use or redevelopment of urban property.

The NSP Program also seeks to prevent future foreclosures by requiring housing counseling for families receiving homebuyer assistance. In addition, the Agency seeks to protect future homebuyers by requiring States and local grantees to ensure that new homebuyers under this program obtain a mortgage loan from a lender who agrees to comply with sound lending practices.

  • Local NewsNewsMore>>

  • A CDC ban on 'fetus' and 'transgender?' Experts alarmed

    A CDC ban on 'fetus' and 'transgender?' Experts alarmed

    Saturday, December 16 2017 7:49 PM EST2017-12-17 00:49:07 GMT
    Sunday, December 17 2017 12:40 PM EST2017-12-17 17:40:51 GMT

    Health leaders say they are alarmed about reports that officials at the nation's top public health agency are being told not to use certain words in official budget documents, including "fetus," and "transgender.".

    Health leaders say they are alarmed about reports that officials at the nation's top public health agency are being told not to use certain words in official budget documents, including "fetus," and "transgender.".

  • Trump defends tax plan, proclaims economy set 'to rock'

    Trump defends tax plan, proclaims economy set 'to rock'

    Saturday, December 16 2017 3:16 AM EST2017-12-16 08:16:02 GMT
    Sunday, December 17 2017 12:40 PM EST2017-12-17 17:40:35 GMT
    (AP Photo/J. Scott Applewhite). House Ways and Means Committee Chairman Kevin Brady, R-Texas, is pursued by reporters in the Capitol after signing the conference committee report to advance the GOP tax bill, in Washington, Friday, Dec. 15, 2017.(AP Photo/J. Scott Applewhite). House Ways and Means Committee Chairman Kevin Brady, R-Texas, is pursued by reporters in the Capitol after signing the conference committee report to advance the GOP tax bill, in Washington, Friday, Dec. 15, 2017.

    Republicans working to execute their first major legislative achievement of Donald Trump's presidency appear to have secured the votes to pass a massive tax overhaul that Trump hoped to present to Americans. 

    Republicans working to execute their first major legislative achievement of Donald Trump's presidency appear to have secured the votes to pass a massive tax overhaul that Trump hoped to present to the American people for Christmas.

  • Special counsel obtains thousands of Trump transition emails

    Special counsel obtains thousands of Trump transition emails

    Sunday, December 17 2017 3:19 AM EST2017-12-17 08:19:20 GMT
    Sunday, December 17 2017 12:40 PM EST2017-12-17 17:40:26 GMT

    Several people familiar with President Donald Trump's transition organization say special counsel Robert Mueller's team gained access to thousands of private emails sent and received by Trump officials before his administration began.

    Several people familiar with President Donald Trump's transition organization say special counsel Robert Mueller's team gained access to thousands of private emails sent and received by Trump officials before his administration began.

Powered by Frankly