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555 Dirksen Office Building
Washington, DC 20510
Ph: 202.224.6342
Fax: 202.224.1100
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Raleigh Office:
310 New Bern Avenue
Suite 122
Raleigh, NC 27601
Ph: 919.856.4630
Toll Free: 866.420.6083
Fax: 919.856.4053
Salisbury Office:
225 North Main Street
Suite 304
Salisbury, NC 28144
Ph: 704.633.5011
Toll Free: 866.420.6084
Fax: 704.633.2937
Western Office:
401 North Main Street
Suite 200
Hendersonville, NC 28792
Ph: 828.698.3747
Fax: 828.698.1267
Eastern Office:
306 South Evans Street
Greenville, NC 27835
Ph: 252.329.1093
Fax: 252.329.1097
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Press Releases
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DOLE ANNOUNCES $57.7 MILLION TO ASSIST N.C. COMMUNITIES STRUGGLING WITH FORECLOSURES
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September 26th, 2008 - Washington, D.C. - U.S. Sen. Elizabeth Dole today announced that North Carolina will receive grants totaling $57.7 million from the Neighborhood Stabilization Program (NSP), part of the U.S. Department of Housing and Urban Development (HUD).
The City of Charlotte will receive $5.4 million and the North Carolina statewide program will receive $52.3 million to buy foreclosed homes, land and property, to demolish or rehabilitate abandoned properties, to offer downpayment and closing cost assistance to low- to moderate-income homebuyers, and to create “land banks” to temporarily manage vacant land.
“I strongly supported the housing bill that created this program to help communities recover from and prevent the devastating effects of foreclosures,” said Dole. “These resources will help stabilize neighborhoods and make a positive difference for hardworking North Carolina families.”
Background
In July, Dole supported the Housing and Economic Recovery Act of 2008, which created the NSP. HUD has allocated $3.92 billion for the NSP to use across the country to acquire and redevelop foreclosed properties.
In addition to helping states and local communities purchase and rehabilitate abandoned and foreclosed properties, the NSP requires housing counseling for families receiving homebuyer assistance and mandates that states and local grantees ensure that new homebuyers under this program obtain a mortgage loan from a lender who agrees to comply with sound lending practices.
Congress mandated that each state receive at least $19.6 million, but many states, including North Carolina, will receive significantly more based on their relative exposure to foreclosures, subprime mortgages and mortgage delinquencies and defaults.
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30th - Senate Approves Dole Measures to Fund Initiatives that Save Troops’ Lives, Prevent Injuries
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27th - Dole Helps Pass Critical Tax Relief Package
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26th - Dole Statement on Administration’s Proposed Rescue Plan
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26th - current Press Release
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25th - Dole, Burr Propose Solutions to Help Alleviate, Prevent Gas Shortages
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24th - Dole Lauds Expiration of OCS Moratorium, Calls for Permanent Repeal
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23rd - Dole: Financial Oversight “Fatally Flawed”
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21st - Dole Statement on Economic Rescue Package
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18th - Dole: Stop Delaying Senate Hearings On Wall Street Turmoil
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15th - Dole Applauds FHFA Decision to Deny Golden Parachutes for Ousted Fannie, Freddie Execs
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11th - Dole, Bipartisan “Gang” of Senators to Deliver Comprehensive Energy Strategy
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11th - Dole Helps Introduce Legislation to Ban Fannie, Freddie Lobbying
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11th - Dole Supports Senate Action to Save Highway Trust Fund
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10th - Dole Helps Introduce Legislation to Deny Golden Parachutes for Fannie, Freddie Execs
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9th - Dole Announces More than $2 Million for Historically Black Universities in North Carolina
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9th - Dole Discusses Transportation Infrastructure, Energy Security
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8th - Dole Responds to Treasury Action on Fannie, Freddie
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4th - Dole Working to Ensure Effective Hurricane Response
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 : radio clip |  : television clip
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