This session will take a deep dive into successful past practices and explore new approaches to restore vacant and abandoned properties to productive use, stabilize communities and create affordable homeownership opportunities for low and moderate income households in Michigan.  This session will draw on historical data from the National Community Stabilization Trust (NCST) including volume of transfers, types of agencies NCST has worked with, acquisition price points and rehab investments. The presentation will capitalize on the wealth of data that NCST has aggregated in Michigan over the past 15 years, in partnership with a considerable breadth of community-based agencies, local governments, mission-based for-profit developers and land banks.  

Session attendees will observe how community partners have utilized NCST technology to respond to and act on REO holdings.  This session will examine new pathways for sources of single family properties in need of rehabilitation such as Claims Without Conveyance of Title (CWCOT) second chance sales – utilizing a recently-announced program providing certain agencies an exclusive window to submit bids for FHA-backed mortgages.  Finally, the session will weave together NCST’s policy, research and advocacy efforts which have led to new programs (such as the CWCOT exclusive listing period referenced above), fostered strategic alliances (such as the National Middle Neighborhoods Community of Practice and the Homeownership Alliance), and is setting the stage for the future of affordable homeownership through Federal-level advocacy of the Neighborhood Homes Investment Act (NHIA).