Department of Housing and Urban Development Secretary Shaun Donovan, U.S. Representative Ed Pastor, and Phoenix Mayor Phil Gordon were the featured speakers at an event hosted by Chicanos Por La Causa in a South Mountain neighborhood on Thursday, November 10th. The event took place in a home that is part of the Phoenix Neighborhood Stabilization Program. Chicago Title Agency, Inc is proud to be a partner in this program.
The federally funded Neighborhood Stabilization Program (NSP) enables eligible applicants to realize homeownership in Phoenix by providing monetary incentives to assist with down payment, closing costs and home improvement.
Representative Pastor and Secretary Donovan both commented on the successes realized by NSP in Arizona. There is a significant ripple effect from rehabilitating distressed properties and assisting qualified buyers obtain financing. Local business have more work for their employees, neighborhood blight is reduced, property values are strengthened, and the pride of homeownership is available to those that didn’t think it was possible.
The local contractors that rehabbed the property were invited and were acknowledged. They were easily recognizable in their bright orange Chicanos Por La Causa t-shirts.