UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X*]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
      OF 1934

                     For the quarterly period ended September 30, 2002


[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934

                  For the transition period from __________ to __________

                         Commission file number 0-13808


                            HOUSING PROGRAMS LIMITED
                       (A California Limited Partnership)


          California                                            95-3906167
(State or other jurisdiction of                              (I.R.S. Employer
 incorporation or organization                              Identification No.)

                          55 Beattie Place, PO Box 1089
                        Greenville, South Carolina 29602
                    (Address of principal executive offices)

                                 (864) 239-1000
                           (Issuer's telephone number)


* While this Form 10-QSB has been filed on the  specified  due date, it does not
contain the certifications  required by the Sarbanes-Oxley Act of 2002 and Rules
13a-14 and 15d-14  promulgated under the Securities and Exchange Act of 1934, as
amended. The Securities and Exchange Commission thus will not consider this Form
10-QSB to be timely filed.

<PAGE>


                                Explanatory Note

The  Partnership  is in the  process  of  verifying  that the  equity  method of
accounting   has  been  properly   applied  for  its   investments   in  limited
partnerships.  Once the Partnership has completed its review,  Ernst & Young LLP
will  complete  its review of the interim  financial  statements  for the period
ended September 30, 2002. As a result,  this quarterly report includes financial
statements that have not been reviewed by an independent  accountant as required
by Rule 10-01(d) of Regulation  S-X. Once the  Partnership and Ernst & Young LLP
have completed their review related to this issue, the Partnership  expects that
Ernst & Young LLP will complete the quarterly  review  required by Rule 10-01(d)
of Regulation S-X.

As a result of the fact that Ernst & Young LLP has not  completed  its review of
the interim financial  statements as of and for the three months ended September
30, 2002, this Form 10-QSB is not accompanied by the certifications  required by
the Sarbanes-Oxley Act of 2002 and Rules 13a-14 and 15d-14 promulgated under the
Securities Exchange Act of 1934, as amended.  The Partnership expects that these
certifications will be filed by amendment to this Form 10-QSB upon completion of
Ernst & Young LLP's review.

<PAGE>




                            HOUSING PROGRAMS LIMITED
                       (a California limited partnership)

                              INDEX TO FORM 10-QSB

                    FOR THE QUARTER ENDED SEPTEMBER 30, 2002




PART I.     FINANCIAL INFORMATION

      ITEM 1.     FINANCIAL STATEMENTS

                  Balance Sheet
                    September 30, 2002                                         1

                  Statements of Operations
                    Three and Nine Months Ended September 30, 2002 and 2001    2

                  Statement of Partners' Deficiency
                    Nine Months Ended September 30, 2002                       3

                  Statements of Cash Flows
                    Nine Months Ended September 30, 2002 and 2001              4

                  Notes to Financial Statements                                5

      ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
                  OPERATION                                                   11

      ITEM 3.     CONTROLS AND PROCEDURES                                     13

PART II.    OTHER INFORMATION

      ITEM 1.     LEGAL PROCEEDINGS                                           14

      ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K                            15

      SIGNATURES                                                              16




<PAGE>



                         PART I - FINANCIAL INFORMATION


ITEM 1.     FINANCIAL STATEMENTS



                            HOUSING PROGRAMS LIMITED
                       (a California limited partnership)

                                  BALANCE SHEET

                               SEPTEMBER 30, 2002
                                   (Unaudited)

<TABLE>
<CAPTION>


                             ASSETS

<S>                                       <C>                            <C>
Investments in limited partnerships (Note 3)                             $ --
Receivable from limited partnership                                         3,633
Cash and cash equivalents                                                     975

            Total assets                                                $ 4,608

              LIABILITIES AND PARTNERS' DEFICIENCY

Liabilities:
   Notes payable (Note 1)                                             $ 4,600,000
   Accrued fees due to affiliates (Note 4)                              1,212,203
   Accrued interest payable (Note 1)                                    7,215,813
   Accounts payable                                                       176,514
   Advances due to affiliates                                              45,935

                                                                       13,250,465
Commitments and Contingencies (Notes 4 and 5)

Partners' deficiency:
   General partners                                                      (383,207)
   Limited partners                                                   (12,862,650)

                                                                      (13,245,857)

            Total liabilities and partners' deficiency                  $ 4,608

         The  accompanying  notes  are  an  integral  part  of  these  financial
statements.
</TABLE>



<PAGE>





                            HOUSING PROGRAMS LIMITED
                       (a California limited partnership)

                            STATEMENTS OF OPERATIONS

              FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                                   (Unaudited)

<TABLE>
<CAPTION>


                                              Three Months Ended           Nine Months Ended
                                                 September 30,               September 30,
                                              2002          2001           2002          2001

<S>                                          <C>           <C>           <C>            <C>
interest income                              $ 2,351       $ 1,288       $ 2,452        $ 7,315

operating Expenses:
  Management fees - partners (Note 4)          49,797        49,797       149,391        150,396
  General and administrative (Note 4)          17,634        27,758        38,163         57,216
  Legal and accounting                          8,717        18,906        44,659         64,195
  Interest                                    110,149       109,250       326,952        327,750
        Total operating expenses              186,297       205,711       559,165        599,557

Loss from Partnership operations             (183,946)     (204,423)     (556,713)      (592,242)
Equity in loss of limited partnerships
  (Note 3)                                         --            --       (30,462)       (96,589)
Gain on sale of limited partnership
  interest (Note 3)                                --            --            --         65,000
Distributions from limited partnerships
  recognized as income (Note 3)                    --            --        11,343         11,201

Net loss                                    $(183,946)    $(204,423)    $(575,832)     $(612,630)

Net loss to general partners (1%)           $ (1,839)     $ (2,044)      $ (5,758)     $ (6,126)
Net loss to limited partners (99%)           (182,107)     (202,379)     (570,074)      (606,504)

                                            $(183,946)    $(204,423)    $(575,832)     $(612,630)
Net loss per limited partnership
  interest (Note 2)                           $ (15)        $ (16)        $ (46)         $ (49)

         The  accompanying  notes  are  an  integral  part  of  these  financial
statements.
</TABLE>


<PAGE>




                            HOUSING PROGRAMS LIMITED
                       (a California limited partnership)

                        STATEMENT OF PARTNERS' DEFICIENCY

                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002
                                   (Unaudited)


<TABLE>
<CAPTION>


                                        General          Limited
                                       Partners          Partners          Total

<S>                                                          <C>
Partnership interests                                        12,368

Partners' deficiency,
  January 1, 2002                     $ (377,449)      $(12,292,576)    $(12,670,025)

Net loss for the nine months
  ended September 30, 2002                (5,758)          (570,074)        (575,832)

Partners' deficiency,
  September 30, 2002                  $ (383,207)      $(12,862,650)    $(13,245,857)


         The  accompanying  notes  are  an  integral  part  of  these  financial
statements.
</TABLE>


<PAGE>




                            HOUSING PROGRAMS LIMITED
                       (a California limited partnership)

                            STATEMENTS OF CASH FLOWS

                   FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001

                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                      2002            2001
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                <C>             <C>
  Net loss                                                         $(575,832)      $(612,630)
  Adjustments to reconcile net loss to net cash used in
   operating activities:
     Gain on sale of limited partnership interest                         --         (65,000)
     Equity in loss of limited partnerships                           30,462          96,589
     Decrease in due from escrow                                          --          15,000
     Increase (decrease) in:
      Accrued interest payable                                       326,952         327,750
      Accounts payable and accrued expenses                           35,311          19,974
      Accrued fees due to partners                                   163,632         (80,487)
         Net cash used in operating activities                       (19,475)       (298,804)

Cash flows from investing activities:
  Proceeds from sale of partnership interests                             --          65,000
  Advances to properties                                              (3,633)        (96,589)
  Capital contributions                                              (30,462)             --
         Net cash used in investing activities                       (34,095)        (31,589)

CASH FLOWS PROVIDED BY FINANCING ACTIVITIES:
  Operating advances from affiliates                                  45,935              --

NET DECREASE IN CASH AND CASH EQUIVALENTS                             (7,635)       (330,393)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                         8,610         372,546

CASH AND CASH EQUIVALENTS, END OF PERIOD                             $ 975          $ 42,153


         The  accompanying  notes  are  an  integral  part  of  these  financial
statements.
</TABLE>


<PAGE>


                            HOUSING PROGRAMS LIMITED
                       (a California limited partnership)

                          NOTES TO FINANCIAL STATEMENTS

                               SEPTEMBER 30, 2002


NOTE 1 - GOING CONCERN

The  accompanying  unaudited  financial  statements have been prepared  assuming
Housing Programs Limited (the  "Partnership")  will continue as a going concern.
The Partnership  continues to generate  recurring  operating  losses and suffers
from a lack  of  cash  as  well as a  partner's  deficiency.  In  addition,  the
Partnership is in default on notes payable and related accrued  interest payable
that matured in December 1999.

Two of the  Partnership's  investments,  Evergreen and Plaza  Village,  involved
purchases of partnership  interests from partners who subsequently withdrew from
the operating  partnership.  The Partnership is obligated for non-recourse notes
payable of  $4,600,000  to the  sellers of the  partnership  interests,  bearing
interest at 9.5 percent.  The notes matured in December 1999. These  obligations
and the related interest are collaterized by the Partnership's investment in the
local limited  partnerships and are payable only out of cash  distributions from
the local limited partnerships, as defined in the notes. Unpaid interest was due
at maturity of the notes.

All notes payable and related accrued interest payable,  aggregating $11,815,813
as of September  30, 2002,  became  payable  prior to  September  30, 2002.  The
Partnership  has not made any payments and is in default  under the terms of the
notes. Management is attempting to negotiate extensions of the maturity dates on
the notes payable.

As a result of the above,  there is  substantial  doubt about the  Partnership's
ability to continue as a going concern.  The financial statements do not include
any adjustments to reflect the possible future effects of the recoverability and
classification of assets or amounts and  classifications of liabilities that may
result from these uncertainties.

NOTE 2 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General

The information  contained in the following notes to the financial statements is
condensed  from  that  which  would  appear  in  the  annual  audited  financial
statements;  accordingly,  the financial  statements  included  herein should be
reviewed in conjunction with the financial  statements and related notes thereto
contained in the  Partnership's  annual  report for the year ended  December 31,
2001.  Accounting  measurements  at interim  dates  inherently  involve  greater
reliance  on  estimates  than at year end.  The  results of  operations  for the
interim period  presented are not necessarily  indicative of the results for the
entire year.

In  the  opinion  of  the  Partnership,  the  accompanying  unaudited  financial
statements  contain all adjustments  (consisting  primarily of normal  recurring
accruals)  necessary to present fairly the financial position of the Partnership
at September  30, 2002 and the results of  operations  and changes in cash flows
for the three and nine months then ended.

Organization

The Partnership was organized under the California  Uniform Limited  Partnership
Act on May 15, 1984.  The  Partnership  was formed to invest  primarily in other
limited  partnerships  that own or lease  and  operate  federal,  state or local
government-assisted  housing  projects.  These other  limited  partnerships  are
referred  to as  "local  limited  partnerships".  The  general  partners  of the
Partnership  are  National  Partnership   Investments  Corp.  ("NAPICO"  or  the
"Corporate  General  Partner"),  Coast Housing  Investment  Associates (CHIA), a
limited partnership, and Housing Programs Corporation II.

The general  partners  have a one percent  interest in profits and losses of the
Partnership.  The limited  partners have the remaining 99 percent interest which
is allocated in proportion to their respective individual investments. NAPICO is
the corporate general partner of the Partnership.

On December 3, 2001, Casden Properties Inc., entered into a merger agreement and
certain other  transaction  documents with  Apartment  Investment and Management
Company,  a Maryland  corporation  ("AIMCO")  and  certain of its  subsidiaries,
pursuant to which, on March 11, 2002, AIMCO acquired Casden  Properties Inc. and
its  subsidiaries,  including  100% of the stock of  NAPICO.  Prior to March 11,
2002, Casden  Properties Inc. owned a 95.25% economic  interest in NAPICO,  with
the balance owned by Casden Investment Corporation ("CIC"). CIC, which is wholly
owned by Alan I. Casden, owned 95% of the voting common stock of NAPICO prior to
March 11, 2002.

Basis of Presentation

The  accompanying  financial  statements  have been prepared in conformity  with
United States generally accepted accounting principles.

Method of Accounting for Investment in Limited Partnerships

The  investments in local limited  partnerships  are accounted for on the equity
method.  Acquisition,  selection fees and other costs related to the acquisition
of the projects have been capitalized to the investment account and amortized on
a straight line basis over the estimated lives of the underlying  assets,  which
is generally 30 years.

Net Loss Per Limited Partnership Interest

Net loss per limited  partnership  interest was computed by dividing the limited
partners'  share of net loss by the  number  of  limited  partnership  interests
outstanding during the period. The number of limited  partnership  interests was
12,368 for the periods presented.

Cash and Cash Equivalents

Cash and cash  equivalents  consist of cash and money market mutual  funds.  The
Partnership  has its cash and cash  equivalents  on deposit  primarily  with one
money market mutual fund. Such cash and cash equivalents are uninsured.

Impairment of Long-Lived Assets

The  Partnership  reviews  long-lived  assets to determine if there has been any
permanent  impairment whenever events or changes in circumstances  indicate that
the  carrying  value  of the  asset  may not be  recoverable.  If the sum of the
expected  future cash flows is less than the carrying  value of the assets,  the
Partnership recognizes an impairment loss.

NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS

As of September 30, 2002, the Partnership holds limited partnership interests in
seven  local  limited  partnerships,  after  selling  its  interest in one local
limited  partnership  in January 2001. As of September 30, 2002, the seven local
limited  partnerships owned residential low income rental projects consisting of
1,153  apartment  units.  The mortgage loans of these projects are payable to or
insured by various governmental agencies.

The Partnership,  as a limited partner, is entitled to 99 percent of the profits
and losses of the local limited partnerships.

Equity in losses of local  limited  partnerships  is recognized in the financial
statements until the limited partnership investment account is reduced to a zero
balance.  Losses incurred after the limited  partnership  investment  account is
reduced to zero are not recognized.

Distributions from the local limited  partnerships are recognized as a reduction
of  capital  until  the  investment  balance  has been  reduced  to zero or to a
negative  amount equal to further  capital  contributions  required.  Subsequent
distributions are recognized as income.

The Partnership  has no carrying value in investment in limited  partnerships as
of September 30, 2002.

The following are unaudited combined estimated  statements of operations for the
three and nine months ended  September  30, 2002 and 2001 for the local  limited
partnerships in which the Partnership has investments:

<TABLE>
<CAPTION>

                               Three Months Ended              Nine Months Ended
                                 September 30,                   September 30,
                              2002           2001             2002            2001
Revenues
<S>                       <C>             <C>             <C>             <C>
  Rental and other        $ 1,885,000     $ 1,892,000     $ 5,655,000     $ 5,676,000

Expenses
  Depreciation                374,000         362,000       1,122,000       1,086,000
  Interest                    242,000         242,000         726,000         726,000
  Operating                 1,402,000       1,339,000       4,206,000       4,017,000

                            2,018,000       1,943,000       6,054,000       5,829,000

Net loss                   $ (133,000)     $ (51,000)     $ (399,000)     $ (153,000)
</TABLE>

NAPICO, or one of its affiliates, is the general partner and property management
agent for certain of the local limited  partnerships  included above. During the
nine months  ended  September  30, 2002 and 2001,  affiliates  of the  Corporate
General Partner were paid approximately $40,000 and $30,000,  respectively,  for
providing property management services.

Under recent adopted law and policy, the United States Department of Housing and
Urban  Development  ("HUD") has determined  not to renew the Housing  Assistance
Payment  ("HAP")  Contracts  on a long  term  basis on the  existing  terms.  In
connection with renewals of the HAP Contracts under such new law and policy, the
amount of rental  assistance  payments under renewed HAP Contracts will be based
on market rentals instead of above market  rentals,  which may be the case under
existing HAP Contracts.  The payments under the renewed HAP Contracts may not be
in an amount  that  would  provide  sufficient  cash  flow to  permit  owners of
properties  subject to HAP  Contracts to meet the debt service  requirements  of
existing  loans  insured by the Federal  Housing  Administration  of HUD ("FHA")
unless such mortgage loans are  restructured.  In order to address the reduction
in payments under HAP Contracts as a result of this new policy, the Multi-family
Assisted Housing Reform and  Affordability  Act of 1997 ("MAHRAA")  provides for
the  restructuring  of  mortgage  loans  insured  by the  FHA  with  respect  to
properties  subject  to the  Section 8 program.  Under  MAHRAA,  an  FHA-insured
mortgage  loan can be  restructured  into a first  mortgage  loan  which will be
amortized on a current basis and a low interest  second mortgage loan payable to
FHA which will only be payable on  maturity  of the first  mortgage  loan.  This
restructuring results in a reduction in annual debt service payable by the owner
of the  FHA-insured  mortgage  loan and is  expected  to result in an  insurance
payment from FHA to the holder of the  FHA-insured  loan due to the reduction in
the principal amount. MAHRAA also phases out project-based subsidies on selected
properties  serving  families not located in rental markets with limited supply,
converting such subsidies to a tenant-based subsidy.

When the HAP  Contracts are subject to renewal,  there can be no assurance  that
the local limited  partnerships  in which the Partnership has an investment will
be permitted to restructure its mortgage indebtedness under MAHRAA. In addition,
the  economic  impact  on the  Partnership  of the  combination  of the  reduced
payments  under  the  HAP  Contracts  and  the  restructuring  of  the  existing
FHA-insured mortgage loans under MAHRAA is uncertain.

During the nine months  ended  September  30,  2001,  the  Partnership  sold its
interest in one local  limited  partnership  for net  proceeds  of $65,000.  The
Partnership  recognized a gain from the sale equal to the net proceeds  received
because it had no investment balance related to this partnership.

NOTE 4 - FEES AND EXPENSES DUE TO GENERAL PARTNERS

Under  the  terms of the  Restated  Certificate  and  Agreement  of the  Limited
Partnership,  the  Partnership  is obligated  to pay to the general  partners an
annual  management fee equal to 0.5 percent of the original  invested  assets of
the local  limited  partnerships.  Invested  assets is  defined  as the costs of
acquiring project interests  including the proportionate  amount of the mortgage
loans  related to the  Partnership's  interests  in the capital  accounts of the
respective local limited  partnerships.  For the nine months ended September 30,
2002 and 2001,  $149,391 and  $150,396,  respectively,  has been  expensed.  The
unpaid balance at September 30, 2002 is $1,197,962.

The Partnership  reimburses  NAPICO for certain  expenses.  The reimbursement to
NAPICO was $14,241 and $15,710 for the nine months ended  September 30, 2002 and
2001, respectively, and is included in general and administrative expenses.

In accordance with the Partnership Agreement,  the Corporate General Partner has
advanced  the  Partnership  funds to  assist  in  paying  for  normal  operating
expenses.  These advances do not accrue  interest.  During the nine months ended
September 30, 2002,  the Corporate  General  Partner  advanced  $45,935 for such
purposes.

As of  September  30,  2002,  the fees and  expenses  due the  general  partners
exceeded the Partnership's  cash. The general  partners,  during the forthcoming
year,  are not expected to demand  payment of amounts due in excess of such cash
or such that the Partnership would not have sufficient  operating cash; however,
the Partnership will remain liable for all such amounts.


<PAGE>



NOTE 5 - CONTINGENCIES

On August 27, 1998, two investors holding an aggregate of eight units of limited
partnership  interests  in Real Estate  Associates  Limited  III (an  affiliated
partnership in which NAPICO is the managing  general  partner) and two investors
holding  an  aggregate  of five units of limited  partnership  interest  in Real
Estate Associates Limited VI (another affiliated  partnership in which NAPICO is
the managing general partner)  commenced an action in the United States District
Court for the Central District of California against the Partnership, NAPICO and
certain other  affiliated  entities.  The complaint  alleges that the defendants
breached their fiduciary duty to the limited  partners of certain NAPICO managed
partnerships and made materially false and misleading  statements in the consent
solicitation  statements  sent to the  limited  partners  of  such  partnerships
relating  to  approval  of the  transfer  of  partnership  interests  in limited
partnerships,  owning  certain  of  the  properties,  to  affiliates  of  Casden
Properties  Inc.,  organized  by an  affiliate of NAPICO.  The  plaintiffs  seek
equitable relief, as well as compensatory  damages and litigation related costs.
On August 4, 1999, one investor holding one unit of limited partnership interest
in the Partnership  commenced a virtually  identical action in the United States
District Court for the Central  District of California  against the Partnership,
NAPICO  and  certain  other  affiliated  entities.  The  second  action has been
subsumed in the first action,  which has been  certified as a class  action.  On
August 21, 2001,  plaintiffs  filed a  supplemental  complaint,  which added new
claims,  including a recission of the transfer of  partnership  interests and an
accounting.  The trial on these claims is in progress.  As of November 15, 2002,
the jury returned a special verdict against NAPICO and certain other  defendants
for violations of securities  laws and breaches of fiduciary duty.  However,  no
verdicts have been returned  against any of the NAPICO managed  partnerships and
no judgments have been entered in the case.

The holder of a purchase money  promissory  note, in the amount of $845,000 plus
accrued  interest  payable of  $1,130,000  as of September  30, 2002,  issued by
Cloverleaf limited partnership,  one of the Partnership's  investments,  filed a
foreclosure action against the Cloverleaf  limited  partnership on September 12,
2001.  The  Partnership  and other  defendants  have  answered the complaint and
intend to  vigorously  defend this action.  The  Partnership  has no  investment
balance related to this local limited partnership.

The holders of three cash flow notes,  with an  aggregate  principal  balance of
$3,825,000,  issued by Oshtemo Limited Dividend Housing Association,  one of the
Partnership's investments,  filed a suit on June 18, 2002 to reduce the notes to
judgment  and  foreclose  on the  Partnership's  interest in this local  limited
partnership.  As of  September  30,  2002,  the parties had reached a settlement
which requires the local limited  partnership to refinance the property by March
31,  2003.  The  proceeds  from  the  refinancing  will be used  to  settle  the
outstanding  notes.  The suit has been  stayed  until  March 31,  2003,  pending
consummation  of the  settlement.  The  Partnership  has no  investment  balance
related to this local limited partnership.

NAPICO is a plaintiff  in various  lawsuits and has also been named as defendant
in other lawsuits arising from  transactions in the ordinary course of business.
In the opinion of NAPICO,  the claims will not result in any material  liability
to the Partnership.



<PAGE>


NOTE 6 - FAIR VALUE OF FINANCIAL INSTRUMENTS

Statement of Financial  Accounting  Standards  No. 107,  "Disclosure  about Fair
Value of Financial  Instruments,"  requires disclosure of fair value information
about financial instruments,  when it is practicable to estimate that value. The
notes payable are  collateralized by the  Partnership's  investments in investee
limited  partnerships,  which account for the  Partnership's  primary  source of
revenues, are subject to various government rules,  regulations and restrictions
which make it  impracticable to estimate the fair value of the notes and related
accrued interest payable.  It is impracticable to estimate the fair value of the
amounts due to affiliates due to their related party nature. The carrying amount
of other assets and liabilities reported on the balance sheets that require such
disclosure approximates fair value due to their short-term maturity.


<PAGE>






ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The Private  Securities  Litigation  Reform Act of 1995 provides a "safe harbor"
for forward-looking  statements in certain circumstances.  The matters discussed
in this report contain certain forward-looking  statements,  including,  without
limitation,  statements regarding future financial performance and the effect of
government regulations. The discussions of the Registrant's business and results
of operations,  including forward-looking statements pertaining to such matters,
do not take into account the effects of any changes to the Registrant's business
and  results of  operations.  Actual  results may differ  materially  from those
described in the forward-looking statements and will be affected by a variety of
risks and factors  including,  without  limitation:  national and local economic
conditions; the terms of governmental regulations that affect the Registrant and
interpretations of those regulations;  the competitive  environment in which the
Registrant  operates;  financing risks,  including the risk that cash flows from
operations  may be  insufficient  to meet  required  payments of  principal  and
interest;  real estate risks, including variations of real estate values and the
general  economic  climate in local markets and  competition for tenants in such
markets; and possible environmental liabilities. Readers should carefully review
the Registrant's financial statements and the notes thereto, as well as the risk
factors  described in the documents the Registrant  files from time to time with
the Securities and Exchange Commission.

The Corporate  General  Partner  monitors  developments in the area of legal and
regulatory   compliance  and  is  studying  new  federal  laws,   including  the
Sarbanes-Oxley  Act of 2002. The Sarbanes-Oxley Act of 2002 mandates or suggests
additional compliance measures with regard to governance,  disclosure, audit and
other areas.  In light of these changes,  the  Partnership  expects that it will
incur higher expenses related to compliance, including increased legal and audit
fees.

Liquidity and Capital Resources

The  Partnership's  primary  sources of funds include  interest  income on money
market accounts and distributions  from local limited  partnerships in which the
Partnership  has  invested.  It is not  expected  that any of the local  limited
partnerships  in which the  Partnership  has invested  will  generate  cash flow
sufficient to provide for distributions to the Partnership's limited partners in
any material amount.

The accompanying  unaudited financial statements have been prepared assuming the
Partnership  will  continue as a going  concern.  The  Partnership  continues to
generate recurring operating losses and suffers from a lack of cash as well as a
partner's  deficiency.  In  addition,  the  Partnership  is in  default on notes
payable and related accrued interest payable that matured in December 1999.

Two of the  Partnership's  investments,  Evergreen and Plaza  Village,  involved
purchases of partnership  interests from partners who subsequently withdrew from
the operating  partnership.  The Partnership is obligated for non-recourse notes
payable of  $4,600,000  to the  sellers of the  partnership  interests,  bearing
interest at 9.5 percent.  The notes matured in December 1999. These  obligations
and the related interest are collaterized by the Partnership's investment in the
local limited  partnerships and are payable only out of cash  distributions from
the local limited partnerships, as defined in the notes. Unpaid interest was due
at maturity of the notes.

All notes payable and related accrued interest payable,  aggregating $11,815,813
as of September  30, 2002,  became  payable  prior to  September  30, 2002.  The
Partnership  has not made any payments and is in default  under the terms of the
notes. Management is attempting to negotiate extensions of the maturity dates on
the notes payable.

As a result of the above,  there is  substantial  doubt about the  Partnership's
ability to continue as a going concern.  The financial statements do not include
any adjustments to reflect the possible future effects of the recoverability and
classification of assets or amounts and  classifications of liabilities that may
result from these uncertainties.



<PAGE>


Results of Operations

Partnership  revenues consist  primarily of interest income earned on investment
of funds.  The Partnership  also receives  distributions  from the local limited
partnerships in which it has invested.

Distributions  received from the local limited  partnerships  are  recognized as
return of capital until the investment  balance has been reduced to zero or to a
negative  amount  equal to future  capital  contributions  required.  Subsequent
distributions received are recognized as income.

Except for investing cash in money market funds, the  Partnership's  investments
consist  entirely  of  interests  in other  local  limited  partnerships  owning
government-assisted  housing  projects.  Available  cash not  invested  in local
limited partnerships is invested in these money market funds to provide interest
income  as  reflected  in the  statements  of  operations.  These  funds  can be
converted to cash to meet obligations as they arise. The Partnership  intends to
continue investing available funds in this manner.

An annual  management fee is payable to the general  partners of the Partnership
and is  calculated  at 0.5 percent of the  Partnership's  invested  assets.  The
management fee is paid to the general partners for their  continuing  management
of partnership  affairs.  The fee is payable  beginning with the month following
the Partnership's initial investment in a local limited partnership.  Management
fees were $149,391 and $150,396 for the nine months ended September 30, 2002 and
2001, respectively.

In accordance with the Partnership Agreement,  the Corporate General Partner has
advanced  the  Partnership  funds to  assist  in  paying  for  normal  operating
expenses.  These advances do not accrue  interest.  During the nine months ended
September 30, 2002,  the Corporate  General  Partner  advanced  $45,935 for such
purposes.

Operating expenses,  other than management fees and interest expense, consist of
legal  and  accounting  fees  for  services  rendered  to  the  Partnership  and
administrative  expenses,  which  were  generally  consistent  for  the  periods
presented.  Legal and  accounting  fees were  $44,659  and  $64,195 for the nine
months  ended   September   30,  2002  and  2001,   respectively.   General  and
administrative expenses were $38,163 and $57,216 for the periods ended September
30, 2002 and 2001, respectively.

The Partnership  accounts for its investments in the local limited  partnerships
on  the  equity  method,   thereby  adjusting  its  investment  balance  by  its
proportionate  share of the  income or loss of the local  limited  partnerships.
Losses incurred after the limited  partnership  investment account is reduced to
zero are not recognized.

Under recent adopted law and policy, the United States Department of Housing and
Urban  Development  ("HUD") has determined  not to renew the Housing  Assistance
Payment  ("HAP")  Contracts  on a long  term  basis on the  existing  terms.  In
connection with renewals of the HAP Contracts under such new law and policy, the
amount of rental  assistance  payments under renewed HAP Contracts will be based
on market rentals instead of above market  rentals,  which may be the case under
existing HAP Contracts.  The payments under the renewed HAP Contracts may not be
in an amount  that  would  provide  sufficient  cash  flow to  permit  owners of
properties  subject to HAP  Contracts to meet the debt service  requirements  of
existing  loans  insured by the Federal  Housing  Administration  of HUD ("FHA")
unless such mortgage loans are  restructured.  In order to address the reduction
in payments under HAP Contracts as a result of this new policy, the Multi-family
Assisted Housing Reform and  Affordability  Act of 1997 ("MAHRAA")  provides for
the  restructuring  of  mortgage  loans  insured  by the  FHA  with  respect  to
properties  subject  to the  Section 8 program.  Under  MAHRAA,  an  FHA-insured
mortgage  loan can be  restructured  into a first  mortgage  loan  which will be
amortized on a current basis and a low interest  second mortgage loan payable to
FHA which will only be payable on  maturity  of the first  mortgage  loan.  This
restructuring results in a reduction in annual debt service payable by the owner
of the FHA-insured mortgage loan and is

<PAGE>


expected  to  result  in an  insurance  payment  from FHA to the  holder  of the
FHA-insured  loan due to the  reduction  in the  principal  amount.  MAHRAA also
phases out project-based  subsidies on selected  properties serving families not
located in rental markets with limited  supply,  converting  such subsidies to a
tenant-based subsidy.

When the HAP  Contracts are subject to renewal,  there can be no assurance  that
the local limited  partnerships  in which the Partnership has an investment will
be permitted to restructure its mortgage indebtedness under MAHRAA. In addition,
the  economic  impact  on the  Partnership  of the  combination  of the  reduced
payments  under  the  HAP  Contracts  and  the  restructuring  of  the  existing
FHA-insured mortgage loans under MAHRAA is uncertain.

During the nine months  ended  September  30,  2001,  the  Partnership  sold its
interest in one local  limited  partnership  for net  proceeds  of $65,000.  The
Partnership  recognized a gain from the sale equal to the net proceeds  received
because it had no investment balance related to this partnership.

ITEM 3.     CONTROLS AND PROCEDURES

The principal executive officer and principal financial officer of the Corporate
General Partner, who are the equivalent of the Partnership's principal executive
officer and principal financial officer,  respectively,  have, within 90 days of
the filing date of this quarterly  report,  evaluated the  effectiveness  of the
Partnership's  disclosure  controls and  procedures  (as defined in Exchange Act
Rules  (13a-14(c)  and  (15d-14(c))  and have  determined  that such  disclosure
controls  and  procedures  are  adequate,  except  that,  as  indicated  in  the
Explanatory Note introducing  this quarterly  report,  the Partnership is in the
process of verifying  that the equity  method of  accounting  has been  properly
applied  to  its  investments  in  limited  partnerships.  There  have  been  no
significant  changes in the Partnership's  internal controls or in other factors
that could  significantly  affect the Partnership's  internal controls since the
date of evaluation.  However,  depending on the outcome of the review  currently
being  undertaken by the  Partnership as to the propriety of the  application of
the equity method of accounting with respect to the Partnership's investments in
limited  partnerships,  changes to the  Partnership's  internal  controls may be
warranted.


<PAGE>




                           PART II - OTHER INFORMATION



ITEM 1.     LEGAL PROCEEDINGS

On August 27, 1998, two investors holding an aggregate of eight units of limited
partnership  interests  in Real Estate  Associates  Limited  III (an  affiliated
partnership in which NAPICO is the managing  general  partner) and two investors
holding  an  aggregate  of five units of limited  partnership  interest  in Real
Estate Associates Limited VI (another affiliated  partnership in which NAPICO is
the managing general partner)  commenced an action in the United States District
Court for the Central District of California against the Partnership, NAPICO and
certain other  affiliated  entities.  The complaint  alleges that the defendants
breached their fiduciary duty to the limited  partners of certain NAPICO managed
partnerships and made materially false and misleading  statements in the consent
solicitation  statements  sent to the  limited  partners  of  such  partnerships
relating  to  approval  of the  transfer  of  partnership  interests  in limited
partnerships,  owning  certain  of  the  properties,  to  affiliates  of  Casden
Properties  Inc.,  organized  by an  affiliate of NAPICO.  The  plaintiffs  seek
equitable relief, as well as compensatory  damages and litigation related costs.
On August 4, 1999, one investor holding one unit of limited partnership interest
in the Partnership  commenced a virtually  identical action in the United States
District Court for the Central  District of California  against the Partnership,
NAPICO  and  certain  other  affiliated  entities.  The  second  action has been
subsumed in the first action,  which has been  certified as a class  action.  On
August 21, 2001,  plaintiffs  filed a  supplemental  complaint,  which added new
claims,  including a recission of the transfer of  partnership  interests and an
accounting.  The trial on these claims is in progress.  As of November 15, 2002,
the jury returned a special verdict against NAPICO and certain other  defendants
for violations of securities  laws and breaches of fiduciary duty.  However,  no
verdicts have been returned  against any of the NAPICO managed  partnerships and
no judgments have been entered in the case.

The holder of a purchase money  promissory  note, in the amount of $845,000 plus
accrued  interest  payable of  $1,130,000  as of September  30, 2002,  issued by
Cloverleaf limited partnership,  one of the Partnership's  investments,  filed a
foreclosure action against the Cloverleaf  limited  partnership on September 12,
2001.  The  Partnership  and other  defendants  have  answered the complaint and
intend to  vigorously  defend this action.  The  Partnership  has no  investment
balance related to this local limited partnership.

The holders of three cash flow notes,  with an  aggregate  principal  balance of
$3,825,000,  issued by Oshtemo Limited Dividend Housing Association,  one of the
Partnership's investments,  filed a suit on June 18, 2002 to reduce the notes to
judgment  and  foreclose  on the  Partnership's  interest in this local  limited
partnership.  As of  September  30,  2002,  the parties had reached a settlement
which requires the local limited  partnership to refinance the property by March
31,  2003.  The  proceeds  from  the  refinancing  will be used  to  settle  the
outstanding  notes.  The suit has been  stayed  until  March 31,  2003,  pending
consummation  of the  settlement.  The  Partnership  has no  investment  balance
related to this local limited partnership.

As of  September  30,  2002,  NAPICO was a  plaintiff  or  defendant  in various
lawsuits. None of these suits are related to the Partnership.  In the opinion of
NAPICO, the claims will not result in any material liability to the Partnership.



<PAGE>


ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a) Exhibits:

                  Exhibit  3,  Restated  Certificate  and  Agreement  of Limited
                  Partnership  dated May 15, 1984 filed with the  Securities and
                  Exchange  Commission  Form S-11 No.  2-92352,  which is hereby
                  incorporated by reference.

            b) Reports on Form 8-K:

                  Current  Report on Form 8-K dated August 29, 2002 and filed on
                  September  6, 2002,  disclosing  the  dismissal  of Deloitte &
                  Touche LLP as the  Partnership's  certifying  auditor  and the
                  appointment  of Ernst & Young LLP, as the  certifying  auditor
                  for the year ending December 31, 2002.


<PAGE>


                                   SIGNATURES



In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.


                                    HOUSING PROGRAMS LIMITED
                                    (a California limited partnership)


                                    By:   National Partnership Investments Corp.
                                          General Partner


                                    By:   /s/David R. Robertson
                                          David R. Robertson
                                          President and Chief Executive Officer


                                     By:  /s/Brian H. Shuman
                                          Brian H. Shuman
                                          Senior Vice President and
                                          Chief Financial Officer


                                     Date: November 19, 2002