Neighborhood Stabilization State & Federal Programs
State and Local Programs/Projects
Michigan State Housing Authority (MSHDA) — Provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing; engage in community economic development activities; develop vibrant cities; towns and villages; and address homeless issues. MSHDA also assists homeowners through the new Hardest-Hit Homeowners program.
Michigan Foreclosure Prevention Project
Michigan Foreclosure Task Force — Statewide task force made up of government, legal aid, and nonprofit housing and counseling providers working to coordinate education and prevention efforts, create a pool of funds to assist families at risk, and address state’s weak laws around predatory lending.
Office of the Attorney General — Provides resources for local governments to facilitate prevention and alternatives to foreclosure.
Neighborhood Stabilization Program (NSP) — a $7 billion program that provides funding to grantees, state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities.
- NSP1 - Seventeen local communities in the SEMCOG region received a combined $137 million, the Michigan state program (allocated through MSHDA) received $98.6 million, and local governments outside of the SEMCOG region received $27.8 million.
- NSP2 - MSHDA and a partnership of 12 city governments and eight land banks were awarded $224 million in NSP2 funds to help stabilize hard-hit communities by turning vacant homes into affordable housing opportunities. In Southeast Michigan, the cities of Detroit, Hamtramck, Highland Park, Pontiac, and Wyandotte, as well as the Wayne County Land Bank Corporation, will receive direct funding.
- NSP3 - $1 billion is to be allocated to throughout the nation.
Community Development Block Grants (CDBG) — provides essential services that protect the health, safety, and welfare of residents through a range of local services. Local governments use CDBG to develop viable communities by providing decent housing, a suitable living environment, and opportunities to expand economic opportunities. In 2010, the state of Michigan received over $141 million in CDBG funding (awarded to 44 entitlement communities and the state). Twenty-five entitlement communities in Southeast Michigan were awarded over $73 million.
HOME Investment Partnership Program — provides formula grants to States and local governments to use in partnership with local nonprofit groups-to fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people. In 2010, nine HOME grantees in Michigan received over $20.7 million.
Choice Neighborhood Initiative — In August 2010 HUD released $65 million in a new competitive grant program - Choice Neighborhoods Initiative. This new program aims to transform neighborhoods by revitalizing severely distressed public and/or private housing and investing and leveraging investments in well-functioning services, high quality public schools and education programs, high quality early learning program and services, public assets, public transportation, and improved access to jobs.
Additional Federal & National Resources
Federal Reserve Bank — Provides informational resources and links to agencies and organizations that may be able to help homeowners struggling to make their mortgage payment.
Federal Housing Administration (FHA) — Provides resources on federal homeownership programs, describes how FHA loans can benefit borrowers, and answers many frequently asked questions concerning foreclosures.
MakingHomeAffordable.gov — Provides self assessment tools, calculators to help borrowers determine eligibility and payment reductions under the new Refinancing and Loan Modification Program.
Federal Trade Commission (FTA) — The nation's consumer protection agency; and provides homeowners with resources on ways to save their home and avoid foreclosure scams.
National Vacant Property Campaign — Provides information resources, tools, and assistance to support areas with vacant property and implement revitalization efforts.
NeighborWorks America — National nonprofit offers many resources including hotline for homeowners facing foreclosure and training opportunities for counselors and governments.
PolicyMap — Provides geographic data on mortgage originations, real estate analysis, and state and local foreclosures through maps, tables, and reports.