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The Neighborhood Stabilization Program (NSP) was created by the Housing and Economic Recovery Act of 2008 to respond to rising residential foreclosures and property abandonment.
The main purpose of the NSP is to stabilize neighborhoods negatively impacted by foreclosures. The City of Kissimmee will use NSP funds to acquire, renovate, and sell or rent foreclosed homes at affordable prices to
What areas qualify under the NSP?
In order to have the most positive impact on neighborhoods hardest hit by foreclosures target areas have been selected for the NSP program. The communities selected for the current NSP program are highlighted in blue below.
How does the NSP program work?
Under the NSP program the City of Kissimmee will acquire and redevelop foreclosed homes in qualifying areas that may have otherwise become a source of abandonment and blight. These homes are renovated by licensed contractors and will include energy efficienct improvements. Once the renovations are completed properties will be available for either rent or purchase.
Properties for Rent
Properties available for rent are targeted as affordable housing for seniors, veterans and special needs families.
This part of the program is being managed by our partner agency, Osceola Council on Aging. Please refer to
our Home Renters section for more details on the program and available properties.
Properties for Sale
NSP Properties for sale offer affordable housing solutions for eligible families and individuals. Please refer to our Home Buyers section for more details on the program and available properties.
Interested buyers, and their Realtor, are encouraged to contact our Real Estate specialist for details about specific properties. By statute, NSP properties are offered at cost, which is a total of the original acquisition, renovation and administration costs. Since NSP Properties have been completely renovated by licensed contractors they are eligible for traditional financing, including FHA and Conventional loans. In addition, prospective buyers will be able to utilize any available down payment assistance programs.
The City of Kissimmee NSP Program is also authorized to provide purchase assistance on a case by case basis. NSP Properties are offered to all qualified buyers who are purchasing property for their primary home and is not limited to first-time home buyers. For more details NSP Program please visit our NSP Eligibility or FAQs page.
For additional information about specific properties, please contact our NSP Real Estate Agent listed below.
|KAREN LEDET, Realtor / MBA|
My Realty & Management Services, Inc.
TEL: (407) 322-0228 | FAX: (407) 328-8055
CELL: (407) 463-2303
Does the NSP Program Offer Purchase Assistance?
Yes! Although this is not the primary objective of the program, some purchase assistance may be available. Applicants are first encouraged to apply for local down payment assistance programs such as SHIP. Click Here for updated info on the Osceola County/Kissimmee SHIP Program.
Buyers approved for purchase assistance through the NSP Program may be required to occupy the property for up to 15 years to fully satisfy the terms of a second mortgage. In some cases the second mortgage can carry no payments and can be fully forgiven after this 15 year term. Buyers may be required to repay the second mortgage if the property is remortgaged, rented, sold or no longer occupied as a primary home at any time during the term of the second mortgage. Please refer to our Buyer Eligibility page for more details on purchase assistance guidelines.
How long am I required to own the property?
Buyers approved for purchase assistance through the NSP Program may be required to occupy the property for up to 15 years to fully satisfy the terms of a second mortgage. In some cases the second mortgage can carry no payments and can be fully forgiven after this 15 year term. Buyers may be required to repay the second mortgage if the property is remortgaged, rented, sold or no longer occupied as a primary home at any time during the term of the second mortgage.
Thank you for your interest in the City of Kissimmee Neighborhood Stabilization Program.
Should you have any questions along the way, please do not hesitate to contact us.
City of Kissimmee
Neighborhood Stabilization Program
101 N. Church Street, Kissimmee, FL 34741-5054
The City of Kissimmee NPS Program is managed in partnership with Florida SPECS, Inc, a non-profit corporation.
This NSP project was funded (in whole or in part) with the assistance of the City of Kissimmee through federal Community Development Block Grant funds
made available by the U.S. Department of Housing & Urban Development under Title III of the Housing and Economic Recovery Act (HERA), as amended.
Pursuant to Section 504 of the Rehabilitation Act of 1973, the Fairhousing Amendments Act of 1988, and Title VI of the Civil Rights Act of 1964,
it is the policy of this community to provide housing on an equal opportunity basis. We do not discriminate on the basis of race,
religion, color, sex, familial status, national origin or disability.