Neighborhood Stabilization
The Housing Partnership Network has been at the forefront of solutions to the housing and foreclosure crisis since the problem emerged over five years ago. In 2008, the Network played a lead role in creating the National Community Stabilization Trust, formed to help communities acquire vacant, foreclosed homes at below-market prices from the nation's largest mortgage servicing companies. To date, this sector wide collaborative has helped communities and nonprofits take possession of 10,000 foreclosed homes from financial institutions.
The Network was also a leading player in the nationwide campaign to fund the federal Neighborhood Stabilization Program which has been the principal capital resource for nonprofit developers and local governments to acquire and rehabilitate foreclosed homes.
Best Practices for the Industry
Today, over 40 Network members are engaged in ongoing efforts to stabilize the small-scale fabric of America's neighborhoods, developing through their work the best practices for the industry. The Network has built a family of enterprises that address the continuum of challenges related to foreclosure, from foreclosure counseling to the Mortgage Resolution Fund, and homeownership counseling (Framework™) to new initiatives related to scattered site rental housing (RETURN).
The Network's efforts have been recognized by the Citi Foundation which provided a $2.75 million grant to support the Innovations in Neighborhood Stabilization and Foreclosure Prevention Initiative. Ten member projects seeking innovative solutions to neighborhood stabilization have been funded under this grant for the past two years.
Latest Updates
A post-rehabbed home in one of Atlanta's hardest hit neighborhoods, developed by the Atlanta Neighborhood Development Partnership.
A renovated single-family home, developed by the Housing Development Fund, Stamford, CT.
