CLERMONT COUNTY, OHIO - If you are working, currently paying rent, are willing to help rehabilitate an existing home, but need help with a down payment, the Clermont Neighborhood Stabilization Program (NSP) may be able to help! The Clermont NSP is currently accepting applications for assistance to purchase homes in foreclosure, primarily in the Bethel area; call (513) 732-7904 for information. “A family of four with an income of $83,000 and below can be eligible for this program,” said Clermont NSP Grant Coordinator Jim Taylor.
The NSP was established by the United States Department of Housing and Urban Development (HUD) to stabilize communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized.
“There are two components to this program,” said Taylor. “One involves purchasing and demolishing run down houses that could then be titled to Habitat for Humanity or another qualified agency to build a home. The other part of the program involves helping educate the homebuyer when selecting and rehabbing a house; it will also provide assistance with the down payment.”
All homes will be appraised and inspected prior to purchase. If the house can be rehabilitated and does not have any major structural faults, the applicant can purchase it for up to 15 percent below appraised value. Rehabilitation work will begin after the purchase.
“All applicants must take part in eight hours of HUD-approved homebuyer counseling,” added Taylor. The counseling includes bill management, budgeting, home care, and financing.
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