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The National Community Stabilization Trust (NCST or Stabilization Trust) is a Washington, D.C.-based non-profit organization that facilitates the transfer of foreclosed and abandoned properties from financial institutions nationwide to local housing organizations to promote property reuse and neighborhood stability. According to U.S. Banker, the Stabilization Trust was "created to act as a middleman between cities looking to acquire abandoned properties and the lenders looking to unload them."
The Stabilization Trust was founded in 2008 in response to America’s foreclosure crisis following the bursting of the housing bubble. Robert Grossinger serves as President and Lot Diaz of UnidosUS is the chairman of the Board of Managers. The Trust's goal is to help local community development organizations, land banks, and other mission-focused nonprofit or municipal organizations acquire, manage, rehabilitate, and sell foreclosed property to ensure homeownership and rental housing are available to low-and moderate-income families. The Stabilization Trust also provides greater access to flexible financing for neighborhood stabilization activities.
The organization has often been cited in the media on topics such as maximizing use of the U.S. Department of Housing and Urban Development's (HUD) Neighborhood Stabilization Program grants.
referencePosted on 14 Sep 2024, this text provides information on Miscellaneous in Community related to Community. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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