Buying a Foreclosed Home
IHDA owns a number of foreclosed properties throughout the state that are available for purchase. Any needed repairs and restoration to the home will be the responsibility of the homebuyer. See list of IHDA foreclosed properties for sale.
IHDA also allocates federal Neighborhood Stabilization Program (NSP) funds to units of local government, non-profit and for-profit agencies to acquire, rehabilitate and redevelop foreclosed properties located in HUD designated areas of greatest need throughout the state. The program’s goal is to prevent neighborhoods that have a high number of foreclosure homes from becoming sources of abandonment and blight within their communities.
If you are a homebuyer interested in buying a previously foreclosed home that has now been rehabilitated under NSP, please contact one of the NSP1 Agencies with Homes for Sale directly for specific information about the unit/property for sale. See Neighborhood Stabilization Program for more information about the program.