I just received a memo in my email regarding the $15,000 down payment and closing cost assistance for first time home buyers.  The Neighborhood Stabilization Program (NSP) is being developed and may open soon in a couple of weeks!  This is a program that will give first time home buyers 20%, up to $14,999 in the form of a forgivable second mortgage if they reside in the property for a 5 year period.  This will be assumed for any down payment and closing cost assistance to the buyer.  As we have all heard in the past few months, the first time home buyer will receive an $8,000 tax break for the purchase of their home.  This is great news and is perfect time for you first time home buyers to start shopping for that perfect home!!!!!!