National Community Stabilization Trust information
National Community Stabilization Trust (NCST)
Company type
Non Profit
Founded
2008
Headquarters
Washington, D.C., United States
Website
www.ncst.org
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."[1]
The Stabilization Trust was founded in 2008 in response to America’s foreclosure crisis following the bursting of the housing bubble. Christopher J. Tyson[2] 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.[3] 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.[4]
^"Cities Take the Keys" U.S. Banker, April 1, 2010, Glen Fest
^"NCST Staff". NCST. Retrieved 2024-04-02.
^"National Collaboration Turns Foreclosures Into Opportunities" Reuters, August 27, 2009
^"Foreclosure Blight: The Cleanup Crawls Along" CNNMoney.com, September 29, 2009, Tami Luhby
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