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 borrowers 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.The Budget Act of 2021 appropriated $500 million through June 30, 2027 for the program. Statute requires HCD to contract with one or more fund managers (nonprofit lenders or housing trust funds) to manage the program.
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FUNDS ARE NOT YET AVAILABLE UNDER FIHPP. HCD expects FIHPP funds to be available to eligible sponsors in early 2024. Please continue checking this site for updates.
FIHPP Fund Management Request for Applications
FIHPP statute requires HCD to grant funds to one or more fund managers to implement the program. Fund managers must be a nonprofit lender with experience making real estate loans in this state, or be a housing trust fund operated by a city, a county, a city and county, or a joint powers authority as described in Article I (commencing with Section 6500) of Chapter 5 of Division 7 of Title 1 of the Government Code operated for the purpose of funding the development, acquisition, rehabilitation, or preservation of affordable housing for low- or moderate-income residents.
HCD has released a Request for Applications (RFA) for FIHPP Fund Managers. The RFA was released on March 8, 2023 and amended on March 24, 2023. Applications are due by 3:00pm on Friday, May 12, 2023. Detailed instructions for application submittal are included in the RFA.
Questions on the RFA should be sent to FIHPP_RFA@hcd.ca.gov
Responses to questions HCD has received on the RFA can be found here:
- FIHPP Fund Manager RFA Questions and Answers (PDF) — updated 03/15/2023
HCD may periodically post updates to the Questions and Answers document as additional questions are received.