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In 2008, the Housing Partnership Network helped lead a pioneering collaboration among six major nonprofit intermediaries to create the National Community Stabilization Trust (NCST) to respond to the national foreclosure crisis. The Housing Partnership Network, Enterprise Community Partners, NeighborWorks America, Local Initiatives Support Corporation (LISC), National Council of La Raza (NCLR) and the National Urban League worked together to form the nonprofit entity to work with the nation's largest financial institutions and local housing providers to reclaim neighborhoods hard hit by foreclosure and abandonment.
Today, NCST supports neighborhood stabilization by transferring foreclosed properties to local housing providers who then renovate the homes to create affordable ownership and rental housing for working families. Since 2009, NCST has conveyed more than 17,000 properties to local housing providers.
NCST helps communities pave the path to neighborhood stability through four key activities:
By creating programs that enable local housing providers to effectively acquire, manage, rehabilitate and sell foreclosed properties, NCST works to ensure the success of community-based strategies to stabilize neighborhoods.