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City of Miramar Offers Two Homes For Sale Under The Neighborhood Stabilization Program

FYI Hits: 991
FYI Hits: 991

MIRAMAR, FL - The City of Miramar received funding from the U.S. Department of Housing and Urban Development (HUD) under the Housing and Economic Recovery Act of 2008 (HERA).  HERA included a foreclosure-related financial assistance program known as the Neighborhood Stabilization Program (NSP) which was intended to address the effects of the housing foreclosure crisis.

Over the years, the City acquired, rehabilitated, and sold several properties. The City used remaining NSP funds to purchase and rehabilitate two additional properties which are now available for sale to income qualified households. The sale will be done through a lottery process with down payment assistance from the City of up to $140,000.

Miramar’s Community Development Director, Eric Silva stated, “Giving our residents access to affordable housing is very important to create stability for families. These homes will be available to very low-income families and are very affordable especially with financial assistance from the City. The NSP Program has greatly benefited our community and this is another great opportunity for two more families to find a place to call home.”

Applicants who meet the income qualification of 50% AMI based on household size, can be entered into the lottery to purchase one of the following homes:

From March 29, 2021 through May 27, 2021, income qualified applicants can contact a lender to be pre-approved for a mortgage to purchase one of the two homes. Applicants may use any lender as long as the lender agrees to the NSP under writing criteria located at www.crafla.com.  A list of lenders who have worked with the program can be found on the same website.

Community Redevelopment Associates of Florida staff will contact applicants to schedule an appointment to attend the open house upon receipt of the lender pre-approval letter. Pre-approval letter must be received by May 27, 2021.

Open House events will be held on June 2, 2021, June 5, 2021, and June 9, 2021. Applicants must have an appointment to attend an open house. Masks are required to enter the NSP Properties.

On June 17, 2021 a lottery drawing to decide on a buyer for each of the properties will take place at the Miramar Commission Chambers located at 2300 Civic Center Place, Miramar, Fl 33025 at 6:00 p.m.

For more information, please visit MiramarFL.gov/Neighborhood-Stabilization-Program-NSP

or visit crafla.com/programs-by-city to learn more. Call 954-431-7866 ext. 111 for additional information.