HUD's new Neighborhood Stabilization Program (www.hud.gov/nsp) provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities. The Neighborhood Stabilization Program (NSP) provides grants to every state and certain local communities to purchase foreclosed or abandoned homes and rehabilitate, resell, or redevelop these homes in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. The program is authorized under Title III of the Housing and Economic Recovery Act of 2008.

Eligible participants must propose to acquire a minimum of ten (10) properties. Participants can view available properties in their community by visiting the website of the M&M contractor assigned to their geographic area, via http://www.hud.gov/offices/hsg/sfh/reo/mm/mminfo.cfm. Each website contains a "Bulk Sales for NSP Grantees" section where participants can bid on properties with their jurisdictions.

Additionally, each purchaser will need a Name and Address Identification Number (NAID) in order to bid on and purchase property from HUD, which can be obtained via http://www.hud.gov/offices/adm/hudclips/forms/files/1111sams.pdf. Properties will be available to both NSP participants and the general public; however the former will be given preference in bid acceptance.