FHA Announces ‘First Look’ Initiative to Help Communities Stabilize Neighborhoods Hard-Hit by Foreclosure

The U.S. Department of Housing and Urban Development (HUD) announced a new initiative that gives state and local governments, and nonprofit organizations participating in HUD’s Neighborhood Stabilization Program (NSP) preference to acquire homes from the Department’s inventory of foreclosed properties, commonly known as “HUD homes.” The initiative was announced by HUD Secretary Shaun Donovan at the National Council of La Raza annual conference in San Antonio, Texas.

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