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"Flash Flood Watch" ...Flash Flood Watch in effect from midnight EDT tonight through Monday morning... The National Weather Service in Upton has issued a * Flash Flood Watch for portions of northeast New Jersey and southeast New York, including the following areas, in northeast New Jersey, eastern Bergen, eastern Essex, eastern Passaic, eastern Union, Hudson, western Bergen, western Essex, western Passaic, and western Union. In southeast New York, Bronx, Kings (brooklyn), New York (manhattan), northern Nassau, northern Queens, northwestern Suffolk, Orange, Richmond (staten island), Rockland, southern Nassau, southern Queens, southern Westchester, and southwestern Suffolk. * From midnight EDT tonight through Monday morning * an area of low pressure will develop along a frontal boundary to our south and pass just south and east of Long Island. Rainfall rates of 1 to 2 inches an hour are possible and may lead to flash flooding the New York City Metro and surrounding areas. Flash flooding will also be possible for portions of the lower Hudson Valley. Precautionary/preparedness actions... A Flash Flood Watch means that conditions may develop that lead to flash flooding. Flash flooding is a very dangerous situation. You should monitor later forecasts and be prepared to take action should flash flood warnings be issued. -- Sunday Jul.23 17,10:24 PM

Foreclosed Houses Converted for First-Time Home Buyers in Nassau

The federally-funded Neighborhood Stabilization Plan is expected to reclaim neighborhoods by transforming foreclosed homes and maintaining property values.

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A new program with federal funding is rehabilitating foreclosed houses in Nassau County.  The goal of the Neighborhood Stabilization Program is to help first-time home buyers take over otherwise abandoned homes is various “target” neighborhoods, including Elmont, Valley Stream, North Valley Stream, Freeport, Roosevelt and Uniondale.

The County purchased 30 foreclosed homes as part of the first round of the program.  So far, 17 homes have been sold to first-time home buyers, and another 13 are in various stages of development and are being readied for contracts.
County Executive Ed Mangano summarized the program: “With the use of Federal dollars, this program reclaims foreclosed homes, assists first-time homebuyers and helps stabilize residential neighborhoods by maintain home values. It’s a win-win for Nassau County.”
Eligibility is based on more than just first-time buyer status.  According to the Federal Housing and Urban Development program guidelines, eligible buyers can make up to 120% of the area median income, and a family of four can earn up to $129,000 to qualify.  Funding for the program is authorized under the American Recovery and Reinvestment Act of 2009 which provides grants to state and local governments, as well as various non-profit organizations on a competitive basis.
The program stipulates that once renovated, the homes cannot be sold above the appraised value.  Homebuyers may receive up to $40,000 of assistance through a subsidy that comes from the state’s Affordable Housing Corporation.  For that subsidy, depending on the level of subsidy, eligible applicants must live in the home for up to 15 years and qualify for a fixed rate mortgage.
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