First Lake County family benefits from federal Neighborhood Stabilization Program
EUSTIS, FL – December 21, 2009 – (RealEstateRama) — The Lake County Department of Community Services is pleased to announce, with its partner Habitat for Humanity of Lake-Sumter, the first Lake County family to receive funding through the Neighborhood Stabilization Program (NSP) is moved into their new home on Starbird Street in Eustis
“The family also qualified for the Florida Housing Opportunity Program tax credit for up to $8,000 in the leveraging of the cost of the home purchased through the Community Services, Housing Services Division,” said Teresa Dunham, NSP Program Specialist with the Lake County Department of Community Services.
The NSP was created by the Housing and Economic Recovery Act of 2008 to respond to rising residential foreclosures and property abandonment. The main purpose of the NSP is to stabilize neighborhoods negatively impacted by foreclosures.
Lake County received $3.1 million to acquire, renovate and sell foreclosed homes at affordable prices to eligible families. To have the most impact on neighborhoods hardest hit by foreclosures, the targeted areas were selected by zip codes to participate in NSP: 34711-Clermont, 32748-34788 Leesburg and 32726-32736 Eustis.
“We have currently purchased six homes in our targeted areas,” Dunham said. “To see one of these homes, contact our partners for information.”
Lake County partners for the NSP include City of Leesburg Housing & Economic Development (352) 728-9798, Habitat for Humanity of Lake-Sumter (352) 483-0434 and Homes in Partnership (407) 886-2451.
Eligibility requirements for buyers to purchase a home under NSP include:
- Cannot currently own a home
- Must be able to obtain mortgage financing
- Have a minimum credit score
- Complete a homebuyer’s education class and obtain certificate
- Meet income guidelines
For more information about the NSP in Lake County, call Bill Gearing, Lake County’s Community Enhancement Coordinator, at (352) 742-3918.
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Media contact:
Christopher Patton
Public Information Coordinator
Office: (352) 343-9609; Cell: (352) 455-0445
cpatton (at) lakecountyfl (dot) gov
