Family Buys First Home Thanks to Neighborhood Stabilization Program

Family Buys First Home Thanks to Neighborhood Stabilization Program

The Chicago Sun-Times (10/28, Masterson, 241K) reports on "the Barragan family of North Chicago" and how they are now homeowners because of the Neighborhood Stabilization Program (NSP). The Sun-Times notes that under NSP, "qualified first-time home buyers are moving into like-new homes that are selling for a fraction of the cost of new construction." The paper also notes that funding from the program "have also been used to purchase and rehab single-family homes in Waukegan, Round Lake, Round Lake Beach and Mundelein in areas that" HUD "and local officials have deemed as the hardest hit by foreclosures."