Clackamas County Community Development

Neighborhood Stabilization Program
(NSP)

Federal stimulus funds are available
for buying foreclosed homes

Qualified middle-income homebuyers can borrow up to $50,000 for down-payment, closing costs, repairs and improvements through the NSP, a program of the federal Housing and Economic Recovery Act of 2008.

Foreclosed (REO)
Single family dwellings only
Up to $50,000 for down payment,
closing costs & repairs
0% interest – deferred loan -no monthly payments
Middle income buyers qualify
(120% of area median income)
MAPS to qualified areas
Download-able flyer with details
Please review Steps to Take

FUNDING IS LIMITED!

Funding is available on a first-come, first-served basis.
Completed applications with accepted sales agreement
are processed in the order received!
Program availability, eligibility and guidelines
are subject to change without notice.

To learn more, click here.

REO or "Real Estate Owned" is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction.
Other NSP Grantees in the Area