Neighborhood Stabilization Program

Program Overview

The Neighborhood Stabilization Program (NSP) was authorized under the Housing and Economic Recovery Act (HERA) of 2008 to redevelop vacant and foreclosed properties that might otherwise become sources of abandonment and blight within their communities.

Pathways is administering the NSP in Petersburg through the acquisition, rehabilitation and resale of single family homes in the Walnut Hill neighborhood. These homes are available for owner-occupancy at prices far below market value.

To apply, download the NSP Intake Form and return it with the required documents. We must have original signatures.

Counseling and Education

Pathways provides buyer-applicants with at least eight hours of counseling including review of the application, pre-approval, and closing processes, eligibility for down payment assistance, developing a spending plan and appropriate mortgage payment, financial counseling including post closing issues such as over spending and contact by creditors and lenders, and a home maintenance demonstration.

Contact

For more information on NSP, including eligibility requirements, contact:
Mike Watts, Program Manager, 804-862-1104 ext. 330

Resources and Links

NSP Homes for Sale

• 1621 Mt. Vernon St.
• 2117 Fort Rice St.
• 528 Oak Hill Rd.

Documents

• NSP Intake Form

Invitations for Bids

• Contractors
• Appraisers
• Rehab Specialists