Neighborhood Stabilization Program 2 (NSP2) Posted on: Thursday, December 9th, 2010 at 5:43 pm. The funds will launch the “New Michigan Urban Neighborhood” strategy, a strategy integrating planning, targeted demolition and rehabilitation. What do you do with thousands of vacant properties in Detroit? Redevelop one at a time. The Detroit Land Bank, working with $20 million in Neighborhood Stabilization Program funds, is patiently carrying out the Detroit Future City plan by remodeling houses and demolishing others. Home Community Profiles Planning Areas of Detroit Neighborhood Stabilization Program 2 printer friendly. Iii Wyandotte Neighborhood Stabilization Program: Retrofit of Two Homes Prepared for: The National Renewable Energy Laboratory On behalf of the U.S. Department of Energy’s Building America Program Office of Energy Efficiency and Renewable Energy 15013.
Detroit, Michigan NSI Fact Sheet. The program promotes strategies to help delinquent borrowers avoid foreclosure, and strategies for more efficient disposition of foreclosed properties. At the national level, the REO inventory of Fannie Mae and Freddie Mac is declining from its 3. Q1. 0 peak of nearly 2. Q1. 4, as dispositions outpace acquisitions.
However, in some areas of the country REO inventory continues to increase or remains near historic highs. Some particular markets have large concentrations of distressed and low- value REO properties as well as large volumes of loans that have been delinquent for one to two years that are likely to become REO. Given the unique challenges presented by these markets—high vacancy rates, weak for- sale markets, steep home- price declines—Fannie Mae and Freddie Mac are partnering with the National Community Stabilization Trust (NCST), a national non- profit organization experienced in stabilization efforts for distressed communities. Working together, they will leverage their ties to “boots on the ground” community organizations and local non- profits, and work closely with local governments to make timely and informed decisions about the best treatment of individual properties. NSI PILOT PROGRAM ELEMENTSPre- Foreclosure Strategies. The NSI program offers Detroit borrowers who are delinquent on their mortgages the opportunity to receive a loan modification that will reduce their monthly payments, help them avoid foreclosure and stay in their homes.
My. City Modification - The new My. City Modification has been added to the traditional loan modification programs (HAMP, Standard Modification, and Streamlined Modification) being offered by Fannie Mae and Freddie Mac in the city limits of Detroit..
Dream of Detroit – Neighborhood Stabilization Project Detroit, MI Dream of Detroit was founded by two organizations, Detroit-based Neighborly Needs, Inc. Dream of Detroit is a community.
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