HUD Approves Massachusetts Neighborhood Stabilization Plan - January 15, 2009

Today U.S. Housing and Urban Development Secretary Steve Preston approved the State of Massachusetts’ plan for more than $43.4 million in funding to recover from the effects of high foreclosures and declining home values. Funded under HUD’s new Neighborhood Stabilization Program (NSP), the State will shortly begin to target emergency assistance to communities by acquiring and redeveloping foreclosed properties that might otherwise become sources of abandonment and blight.

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