The Foreclosure Intervention Housing Preservation Program (FIHPP)
What is FIHPP and Why Is it at risk?
The Foreclosure Intervention Housing Preservation Program (FIHPP) is designed to prevent the displacement of at-risk residents through grants to eligible recipients (including Community Land Trusts, nonprofit affordable housing organizations, and tenants) to acquire and rehabilitate 1-25 unit properties at risk of foreclosure or in the foreclosure process.
FIHPP was added to California’s Health and Safety Code via the Budget Act of 2021 which appropriated $500 million for the program.
The Governor’s ‘24-’25 Budget Proposal aims to cut $248 million of $485 million budget (51%) from FIHPP. We implore the Governor to reconsider cutting half of FIHPP’s funding which will undermine the Program at this critical juncture. The need for the program is too great and both HCD and other key stakeholders have sunk too many resources into this pioneering housing strategy to hobble it now.
What You Can Do To Support FIHPP and Affordable housing preservation
1. Sign Up for Advocacy Updates
Fill out this form to get looped into advocacy efforts to stop debilitating cuts to the Foreclosure Intervention Housing Preservation Program. See here for more information on the proposed cuts. Those efforts may include sign-on letters, meetings with your representatives in the legislature, and more.