The Neighborhood Stabilization Initiative (NSI) program spans 18 hard-hit metropolitan areas
NSI was jointly developed by the Federal Housing Finance Agency (FHFA) and Fannie Mae and Freddie Mac to stabilize neighborhoods hardest hit by the housing downturn and reduce the inventory of real estate owned (REO) properties held by Fannie Mae and Freddie Mac. NCST was selected as the national nonprofit partner due to our unique blend of policy expertise and on-the-ground experience working with local affordable housing and community development organizations (community buyers) and local government to eliminate the blight caused by vacant and foreclosed properties and severely delinquent mortgages in distressed communities.
NSI began as a pilot program in Detroit, Michigan and was expanded to Cook County, Illinois. Now the program is in 18 strategic markets that continue to have large concentrations of distressed and low-value REO inventory.
The metropolitan areas include:
|Akron, OH||Atlanta-Sandy Springs-Roswell, GA||Baltimore-Columbia-Towson, MD|
|Chicago-Naperville-Elgin, IL||Cincinnati, OH-KY-IN||Cleveland-Elyria, OH|
|Columbus, OH||Dayton, OH||Detroit-Warren-Dearborn, MI|
|Jacksonville, FL||Miami-Fort Lauderdale-West Palm Beach, FL||New York-Newark-Jersey City, NY-NJ-PA|
|Orlando-Kissimmee-Sanford, FL||Philadelphia-Camden-Wilmington, PA-NJ-DE||Pittsburgh, PA|
|St. Louis, MO||Tampa-St. Petersburg-Clearwater, FL||Toledo, OH|
For more information about these areas, see this interactive map on FHFA.gov.
Our community buyers review and purchase foreclosed properties through REOMatch®, our online property transaction portal. For more information about becoming an NCST community buyer, please contact us.
Hogar Hispano, Inc. purchased this Maryland single-family home and transformed it with more than $21,000 in rehabilitation to a family-ready home for a buyer who was at 67% of AMI. The family wanted to have their own place with a yard to call home for their children.