Home Buyer Advantage Program
Congress established the Neighborhood Stabilization Program (NSP) to stabilize communities that have suffered from
foreclosures and housing abandonment. The U.S. Department of Housing and Urban Development
allocated $43 million in Neighborhood Stabilization Program monies to the Mississippi Development Authority to help
communities in Mississippi which have been severely impacted by mortgage foreclosures and declining property values.
The Mississippi Development Authority allocated $20.7 million of this money to the Mississippi Home Corporation to provide one time
down payment assistance grants for individuals buying foreclosed property. The goal of this program is to help individuals purchase
and improve these properties and help stabilize the neighborhood where they are located. The name of the program operated by Mississippi
Home Corporation is Home Buyer Advantage.