Neighborhood Stabilization Program:
Through the Housing and Economic Recovery Act (HERA) of 2008, Hamilton County was entitled $2.3 million dollars from the United States Department Housing and Urban Development (HUD). A portion of these funds was put towards a down payment assistance program for income qualified purchasers of foreclosed properties.
HAND, Inc. assisted a total of 36 people, in 15 households, in their purchase of a home from October 2009 - July 2010. The purchased homes were located in Noblesville, Fishers, Carmel, and Westfield with an average purchase price of $114,500. All homebuyers participated in an 8 hour homebuyer training course prior to purchasing their new home. The Neighborhood Stabilizaton Program's Down Payment Assistance leveraged approximately $1.4 million in homebuyer FHA or convential mortgage investment in Hamilton County.
This program is now closed, but if you have questions, please contact Stephanie Burdick at 317-674-8108 or stephanie@handincorporated.org.