The Maui News - In a reversal of fortunes, Maui residents in need of affordable homes could buy about a dozen foreclosed residences next year under a program managed locally by Na Hale O Maui, a community land trust working to develop affordable housing. The federal Housing and Economic Recovery Act, signed in July by President Bush, provides $3.92 billion nationally in emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight. The Hawai‘i Housing Finance and Development Corp. expects to receive $19.6 million under the act’s Neighborhood Stabilization Program. According to a published notice, the proposed allocation would be: $3 million to Maui County, $5.5 million to the City and County of Honolulu, $4.9 million to Hawai‘i County and $4.3 million to Kaua‘i County. Under the program in Maui County, Na Hale O Maui would acquire abandoned and foreclosed homes in north Wailuku-Waiehu, Dream City and Maui Lani in Kahului, North Kihei and in Lahaina. The organization expects to provide about 37 families with housing in four years. Na Hale would provide long-term stewardship of the rehabilitated affordable homes by holding title to the underlying land in a community land trust and providing the homeowner with a renewable 99-year ground lease, the notice said.