What is NSP?

NSP stands for “Neighborhood Stabilization Program”. NSP homes are owned by not for profit agencies that work in conjunction with Pasco and Polk Counties to rehab blighted properties throughout the county and sell them to low to moderate income families with buyer assistance funds.The Neighborhood Stabilization Program (NSP) was created to respond to rising residential foreclosures and property abandonment. The main purpose of the NSP is to stabilize neighborhoods that are negatively impacted by foreclosures in Polk County. NSP funds are available to buy, renovate and sell homes.

Who is Keystone Challenge Fund, Inc.?

Keystone Challenge Fund is a non-profit corporation established in 1991 with a primary purpose to operate for the advancement of affordable housing. The mission is to provide homebuyer education and affordable financing to low and moderate income homebuyers.  Keystone has directly assisted 2,681 low and moderate income households with permanent financing and/or down payment and closing cost assistance for an affordable home purchase, as of December 31, 2006.  Keystone provides affordable housing program administration for Pasco County, Polk County, the City of Lakeland, and the City of Winter Haven. Keystone has experience in administering down payment and closing cost assistance through various state and federal funding programs.  Keystone has worked in partnership with Polk County since December 1993 and provided assistance to 1,839 homebuyers through Polk County programs since that time. Keystone also has assisted 709 homebuyers in the City of Lakeland since 1991 and 133 in Winter Haven since 1994. A total of $166.5 million has been loaned to assisted homebuyers by private lenders.  Keystone has established a consortium of lenders who provide affordable first mortgage financing to low income home buyers. Lenders have agreed to the waiver of normal lender origination fees to assisted clients, and may not require private mortgage insurance.