Important Notice:

The City of Milwaukee's NSP 1 Program is winding down. Funding for the City's NSP program will continue to be available utilizing NSP 2 funds, but the target area for the program will change .

Map of the NSP 2 area
List of NSP 2 eligible census tracts

Going forward, NSP assistance will only be available in the NSP 2 target area.

What does this mean?

•  As of Friday, August 13, 2010, NSP Homebuyer Assistance, Rental Rehabilitation and Buy in Your Neighborhood applications will only be accepted for properties located in n NSP 2 eligible census tracts.

•  NSP Homebuyer Assistance, Rental Rehabilitation and Buy in Your Neighborhood applications received between now and August 13, 2010 that are not in NSP 2 eligible census tracts will be processed. However, it is important to note for applications that are received that are incomplete, there will be no guaranty of funding.

•  There is only one target area for the NSP 2 area. This means for the Homebuyer Assistance Program, the level of assistance available for individual transactions throughout the NSP 2 area will be the same as for the amount that were offered for the “incentive area” for NSP 1.

If you have any question about applications currently in process, please contact the NSP loan officer assigned to your case, or call 286-5610.

The City of Milwaukee is building stronger neighborhoods through an initiative to address rising mortgage foreclosures
 

Neighborhoods across the city are being impacted by increasing numbers of foreclosures. Long term homeowners are facing the prospect of losing their home to foreclosure and vacant and abandoned foreclosed properties are negatively impacting city neighborhoods.

The City of Milwaukee and a broad coalition of partners have been working to address the problem of foreclosures in the City of Milwaukee. These efforts are comprehensive, and address the foreclosure problem in a number of ways:

Prevention efforts – to expand outreach efforts and increase education for homeowners and potential homebuyers

Intervention efforts – to assist homebuyers facing foreclosure

Stabilization efforts – to address vacant and abandoned properties in City neighborhoods

In 2008, Mayor Tom Barrett launched the Milwaukee Foreclosure Partnership Initiative (MFPI) to combat the effects of the rise in foreclosures on city residents and neighborhoods. More than 100 volunteers came together to develop innovative solutions to address the foreclosure problem in Milwaukee. Milwaukee’s Common Council also convened the Special Joint Committee on the Redevelopment of Abandoned and Foreclosed Homes to guide the City’s efforts for the use of federal funding to address foreclosed homes in city neighborhoods.

You can help!

»	If you or someone you know are having difficulty making your mortgage payments, contact a homebuying counseling agency.
»	If there is a foreclosed property in your neighborhood, contact the City to report any problems
»	If you are interested in purchasing a foreclosed property, check out the resources available through the Neighborhood Stabilization Program (NSP).