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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