Get help paying mortgage from the Neighborhood Stabilization Program

The United States Housing and Urban Development (HUD) Agency has allocated almost $4 billion to all states, with an emphasis on hard-hit areas, in order to provide those states with additional support and resources so that they can provide mortgage assistance to residents.

The state and local governments that were giving this aid can use their neighborhood stabilization grants to acquire property and land, to rehabilitate or demolish abandoned properties or homes, and/or to offer down payment or closing cost assistance to lower to moderate-income home buyers. Each local government has some flexibility in how they can use this additional mortgage aid.

As of October 2008, many states are still putting together their plans in how they will use this assistance to help their residents pay their mortgage bills and debt. Your best option at this point is to contact your local county offices, typically a development or HUD office (you can use the search box below) or contact a mortgage counselor, who may be able to provide further details on whether this mortgage assistance plan can help you.