Neighborhood Stabilization Program
Please contact the following realtors to find out about your new home!
Affordable Housing Consultants
Keller Williams Advantage Realty, LLC
The Neighborhood Stabilization Program (NSP)was created to address the series of problems arising from the significant number of foreclosed homes. These problems include property value loss, lost revenue both in the public and private sectors, the increase in incidents of blight and crime due to vacant foreclosed homes, and the shrinking mobility of loans for refinance due to lost equity.
The program is authorized under Title III of the Housing and Economic Recovery Act of 2008, signed into law on July 30, 2008. Through an allocation process based on need, Adams County will receive $4.6 million in direct federal allocations and an additional $2.75 million in state-directed federal funding. NSP was created to be a five-year program, with a sunset date of July 30, 2013, after which time all remaining funding will be returned to the U.S. Treasury Department.
This funding can be used for a variety of activities designed to stabilize housing, including use as a financing mechanism to ensure affordability; for acquisition, rehabilitation and resale or rental of foreclosed homes; for acquisition, demolition and redevelopment of blighted structures; and for land banking. All of these eligible activities will be pursued within Adams County. For more information about how these activities will be implemented, please see the Adams County Community Development NSP Substantial Amendment.
Neighborhood Stabilization Program Guidelines for Purchase
Eligibility Requirements for Purchase
Median Family Income in the Denver - Aurora Metro Statisical Area
|Program||AMI Percent||1 Person||2 Persons||3 Persons||4 Persons||5 Persons||6 Persons||7 Persons||8 Persons|
How to Apply-
**Please remember, a complete application and Intake must be submitted at least four weeks before closing in order to allow time for processing.**
Initial Application Process
After Conditional Acceptance
- Buyer is required to attend 8 hours of Home Buyer Education from an approved HBE class.
- Buyer must supply additional verification documentation per program guidelines:
- Copy of last two year's personal income tax returns
- Copy of two pay stubs for all working persons over the age of 18 within the household
- Copy of any pension, annuity, or social security benefits statements
- Copy of Driver’s License
- Signed Legal Residency Affadavit (HC 214)
- Divorce Decree including maintenance (if applicable)
- Child Support Agreement (if applicable)
Evidence of Payments (if applicable
Kyle Henderson - Project Developer
Direct Line: 303-227-2055
Please check back later for information about ACHA’s Rent-to-Own program.
- REOs acquired with NSP funding are required to be purchased at a discount of at least 5% per property, with an aggregate discount of 15% across the portfolio.
- The property must be vacant, preferably at least 90 days.
Adams County Housing Authority provides housing solutions and services for Adams County residents. Complete information for all programs can be obtained by calling (303) 227-2075 or visiting our web site at www.adamscountyhousing.com.