HUD's 4 billion dollar grant program is getting closer to reality. They are meeting Oct 14th and Oct 16th to get the program under way. The program is called "Neighborhood Stabilization Program" and it will fund state and local goverments acquire land and property, demolish or rehabilitate abandoned properties. It also will allow the state and local goverments to offer down payment and or closing cost assistance to low and moderate income buyers. If used properly this will help stabilize neighborhoods hit hard by foreclosures.