HP3 pairs expert guidance with catalytic capital to resolve heirs’ property and tangled title matters that block clients from keeping or restoring their inherited home. HP3 is designed to work where conventional credit cannot — for example, to consolidate partial interests or address imperfect titles – and to recycle repaid funds to serve future borrowers. This first-of-its-kind solution is made possible with the leadership support of Wells Fargo.
Estate planning protects your home and other assets, making sure they pass to the people you choose. But every year, New Yorkers die without a plan. Many heirs are left in a confusing situation—owning only part of a home, while other ownership interests may fall into the hands of outside investors looking to profit. These kinds of inherited homes and land are known as heirs property. Resolving it takes time, money, and legal expertise. Without action, heirs can’t prove clear ownership, which means they may be denied credit, blocked from repair or disaster relief programs, or even risk losing their homes.
New York State provides strong support for homeowners, including the Homeowner Protection Program (HOPP) network of housing counselors and legal services providers. These advocates were among the first to highlight the dangers of heirs property and push for solutions. Building on their work, the Center researched the problem and found more than $400 million worth of NYC property at risk at any given time. In response, we created the HP3, which offers low- and no-interest loans to help heirs and individuals resolve tangled title issues and lend repaid funds to the next heirs in need. Every New Yorker deserves the security of staying in their rightful home—protected from scammers, instability, and loss.
Wells Fargo Foundation
Dial 311 and ask for the Center for NYC Neighborhoods
Or call us directly at 646-786-0888
Email: info@cnycn.org
Press: press@cnycn.org
