House Votes to End NSP reports the House of Representatives voted to end the Neighborhood Stabilization Program (NSP) which began with HUD’s Housing and Economic Recovery Act (HERA) in 2008 with $3.9 billion.  Recipients use the funds to rehab empty residential properties and resell them.  Owner-occupants are given two weeks to bid on them as well.  HUD defended the program in a statement, saying it was effectively turning abandoned homes into communities in some of the hardest hit areas.  It said, “We cannot afford to turn back the progress we’ve made in these neighborhoods.  To cut off funding just as this program is taking root would be counterproductive.”  Sources in the Senate say the bill to end this program will be dead on arrival at the Senate.

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