NJHMFA’s Foreclosure Intervention Program Continues to Invest in Creation of New Homebuying Opportunities for First-Time Buyers

TRENTON, NJ - Two vacant South Jersey properties will soon have new life as homes for families seeking the opportunity to become first-time homeowners, thanks to financing commitments from the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

Through its Residential Foreclosure Intervention Program, NJHMFA is supporting the acquisition and rehabilitation of homes in Camden and Southampton, transforming properties that have gone through the foreclosure process into opportunities for first-time and income-qualified homebuyers. The NJHMFA Board approved the financing commitments at its September 3, 2026, meeting.

The properties are being rehabilitated by nonprofit housing organizations with experience restoring homes and preparing families for homeownership. Saint Joseph's Carpenter Society and SJCS Rehab will rehabilitate a five-bedroom home in Camden, while Salt and Light Company, Inc. will acquire and rehabilitate a two-bedroom home in Southampton.

"As we look at new and innovative ways to increase the available supply of quality starter homes for purchase, the Foreclosure Intervention Program continues to ensure that foreclosed upon homes are being returned to the market for first time homebuyers," said NJHMFA Executive Director Melanie R. Walter. "Through this program, we are partnering with experienced nonprofit organizations who specialize in this work and are restoring these properties for families to put down roots and build long-term financial stability through homeownership."

The Camden property is a 1,592-square-foot attached home, built in 1925, featuring five bedrooms and one bathroom. Rehabilitation will include structural repairs, a new roof, energy-efficient windows and doors, plumbing and electrical upgrades, and a new energy-efficient heating and cooling system.

The Southampton property is a 921-square-foot bungalow, located in the Leisure Towne adult community, built in 1972, and consists of two bedrooms and one bathroom.

The Residential Foreclosure Intervention Program helps nonprofit organizations acquire, rehabilitate, and return foreclosed and abandoned residential properties to productive use. By restoring existing housing stock and making homes available to income-qualified buyers, the program supports neighborhood stabilization while expanding affordable homeownership opportunities throughout New Jersey. These properties will be the 20th and 21st to be restored for homeownership through this program.

Nonprofits interested in seeking to rehabilitate properties through the FIP are encouraged to visit https://www.nj.gov/dca/hmfa/consumers/nonprofits/ or reach out to [email protected] for more information.

About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: njhousing.gov