Westmoreland Votes to End Unnecessary Housing Program, Return $1 Billion to US Taxpayers

WASHINGTON, D.C. – March 17, 2011 – (RealEstateRama) — This week, the House of Representatives voted to terminate the Neighborhood Stabilization Program, saving $1 billion of taxpayer money. The Neighborhood Stabilization Program was created in the 2008 Fannie Mae and Freddie Mac bailout bill and allocated federal taxpayer dollars to state and local governments to purchase, renovate, rebuild, and resell abandoned and foreclosed property.