The U.S. housing market remains extremely uneven. While some areas have rebounded significantly from the recession and have a robust housing market, others – especially communities of color, lower-income areas, and cities where economic activity remains depressed – continue to grapple with high rates of vacant, abandoned and distressed properties that weaken nearby home values, create health and safety risks, lower local tax revenues, and thwart neighborhood revitalization efforts.
The National Community Stabilization Trust (NCST) is a non-profit organization that works to restore vacant and abandoned properties to productive use and protect neighborhoods from blight. Our programs facilitate the rehabilitation of vacant but structurally sound homes, enable safe, targeted demolition when necessary, and support creative and productive re-use of vacant land.
We support neighborhoods and fight blight through these key activities:
- Provide community-based buyers an opportunity to acquire vacant, abandoned and distressed properties as part of a neighborhood revitalization strategy. Our First Look REO acquisition program gives local housing and community development organizations the opportunity to obtain properties before they are marketed more broadly.
- Partner with Fannie Mae and Freddie Mac in their Neighborhood Stabilization Initiative. The NSI partnership offers Fannie and Freddie REO properties to local housing and community development organizations in 18 strategic markets.
- Own and manage distressed mortgages through The ReClaim Project. In collaboration with the Housing Partnership Network (HPN), we manage a portfolio of highly distressed mortgages to resolve delinquencies, assist homeowners, and prepare vacant properties for productive disposition.
- Work with policymakers and serve as an advocate. Along with many national and local partners, including our six sponsors, we research solutions and advocate for policies to help communities address blight and high rates of vacant, abandoned, and distressed properties.
- Offer financing to support local housing work. Our REO Capital Fund aggregates capital from philanthropic and social investment sources to provide flexible financing for local organizations to acquire and rehabilitate single family homes.
Download our fact sheet: NCST Overview March 2016