Welcome to the City of Los Angeles Neighborhood Stabilization Program
City of Los Angeles
Los Angeles has been hard hit by the national foreclosure crisis, with too many
families losing their homes and too many communities being harmed when banks
leave foreclosed homes empty and blighted. To help our city recover, we have
aggressively sought federal assistance to help cope with the crisis, and have
been awarded $142,740,870 in Neighborhood Stabilization Program funds from the
U.S. Department of Housing & Urban Development (HUD).
Our Housing and Community Investment Department (HCIDLA) has developed an
innovative program to utilize these funds for the acquisition, rehabilitation
and resale of foreclosed residential properties to help arrest declining home
values and revitalize neighborhoods.
Single family homes are sold to low- to moderate-income homebuyers. Multi-family
properties are sold to local non-profit organizations that in turn rent to low-
to moderate-income tenants. Homebuyers can take advantage of city purchase
assistance in the form of deferred subordinate loans for acquisition, down
payment, and closing costs.
Please explore this site for more information. Your participation in this
program can make a big difference for your family and for our communities.