Even during the start of his administration, President Barack Obama already pledged a “war” against property and home ownership loss due to foreclosures. And the Department of Housing and Urban Development (HUD) is continuously supporting this fight against foreclosures, with a new round of contributions given on the week of September 5.

HUD has given a third round of major contributions to state and local government amounting to $1 billion through HUD’s Neighborhood Stabilization Program (NSP). NSP was created by the Congress specifically to aid in home foreclosure crisis through infusions of federal government funding. According to HUD Deputy Secretary Ron Sims, with NSP 1 and NSP 2 – and now also NSP 3 – the department has already spent $7 billion in helping stabilize neighborhoods through minimizing foreclosures and recovering lost neighborhoods.

The money given to cities can be used as discretionary grants either to buy land or property or to demolish or rehabilitate abandoned properties. It may also be used to financially aid low-to-moderate income homebuyers.

One of those cities to receive a contribution is Prince George’s County, a hard-hit jurisdiction. It received $1.8 million in funding, which, according to U.S. Rep. Donna Edwards, is a big help towards recovery. She also states that as the country continues to heal the wounds given by the foreclosure crisis, the HUD funding is critical as her jurisdiction can use it to purchase foreclosed homes and end the home values free fall.

Newark, New Jersey also got a funding of $2 million and Mayor Cory Booker also admitted that this is a really big help for the city. The mayor shares that the $2 million will be set aside to purchase and rehabilitate 47 foreclosed homes. The rehabilitated homes will then be sold to Newark residents of low- and middle-income.

Booker, in a conference, said, “What we’re celebrating today is not just job creation, home creation or neighborhood stabilization, but today we really are creating and delivering upon the most powerful of human forces and that is hope and love. This is hope in action and this is love being manifested.”