Foreclosure Intervention Housing Preservation Program

The purpose of the Foreclosure Intervention Housing Preservation Program (FIHPP) is to preserve affordable housing and promote resident or nonprofit organization ownership of residential real property. Funds are to be made available as loans or grants to eligible sponsors to acquire and rehabilitate properties at risk of foreclosure or in the foreclosure process. FIHPP was added to California’s Health and Safety Code in July 2021, with initial appropriations in the Budget Act of 2021. Statute requires HCD to contract with one or more fund managers (nonprofit lenders or housing trust funds) to manage the program. As of July 2023, funds are not yet available to eligible sponsors; funds are anticipated to be available in the first half of 2024.