NCST supports neighborhood revitalization through innovative programs, services and tools – including Property Acquisition. Our property acquisition programs link the distressed inventory, both property and notes, of financial institutions (Sellers) with local housing providers (Buyers) who seek to acquire foreclosed, abandoned properties within designated, targeted areas to revitalize neighborhoods. Our scalable platform creates a systematic means to move properties from Sellers to Buyers.
- First Look Program: Community Buyers receive an exclusive view of newly available REO properties in select neighborhoods from financial institutions, before those properties are listed for sale on the open market.
- Neighborhood Stabilization Initiative (NSI): NCST is the non-profit partner for this joint program with the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac. The program seeks the best disposition of distressed properties in hard hit markets.
- Block-by-Block Initiative: NCST supports Freddie Mac’s Block-by-Block initiative, designed to revitalize urban neighborhoods struggling to recover from the economic crisis.