NCST’s 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.
- The ReClaim Project: We work with community buyers in struggling, left-behind markets to resolve pre-foreclosure, low-value distressed assets in ways that benefit rather than harm homeowners, neighbors, and communities. We develop a customized solution to address each property’s unique challenges and benefits.
- 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.
- 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.
- Block-by-Block Initiative: NCST supports Freddie Mac’s Block-by-Block initiative, a program designed to revitalize urban neighborhoods struggling to recover from the economic crisis.
- Mortgage Resolution Fund (MRF): MRF is the partnership of Mercy Portfolio Services, Enterprise Community Partners, the Housing Partnership Network, and NCST. We seek to further neighborhood stabilization efforts by preserving homeownership through purchasing of non-performing loans and offering borrowers the opportunity for a permanently modified mortgage.