Financial Reform Legislation Adds $1 Billion to NSP Fund

 The Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law by President Obama Wednesday provides an additional $1 billion for HUD’s Neighborhood Stabilization Program (NSP) – a nationwide initiative aimed at alleviating the effects of the foreclosure crisis on communities that have been hit hard by the housing downturn and are riddled with abandoned properties.

A piece airing on National Public Radio (NPR) this morning focused on Washington’s landmark financial reform legislation and its potential impact on the sluggish economic recovery, but invariably, any such discussion always circles back to housing woes.

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