RECAP, in collaboration with the Orange County Office of Community Development, NYC Housing Partnership Development Corporation, Rural Development Advisory Corporation and the Greater Newburgh Habitat for Humanity, formed the Orange County Housing Development Fund Corporation (OCHDFC) after the successful acquisition of federal and state funding under the Neighborhood Stabilization Program (NSP). This program's goal is to revitalize housing and stabilize home values in neighborhoods that have been hardest impacted by foreclosures.

NSP funds are utilized in the cities of Middletown, Newburgh and Port Jervis to purchase bank-owned, vacant, or foreclosed homes which are then renovated by qualified contractors and vetted through the Housing Partnership and the Orange County Office of Community Development. Renovation focuses on the home's primary systems, energy efficiencies, and health and safety issues. Once the house is ready it is then sold to income-eligible homebuyers. 

RECAP, through the OCHDFC, brings together the resources of local financial institutions, Certified Homeownership Counselors, builders, appraisers, realtors and lenders. This collaboration allows homebuyers to benefit from a professional development team.

Under NSP, buyers may be eligible for grants of up to $60,000. The NSP serves homebuyers with annual incomes of up to 120% of the area median income, adjusted for family size.  For example, a family of four earning up to $100,080 may qualify for a grant of up to $60,000. 

To make sure buyers are prepared, the NSP requires the completion of a Homebuyer Education & Counseling course conducted by a HUD Certified Homeownership Counseling agency.