The Neighborhood Stabilization Program (NSP) will provide emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities.
Carrollton-Carroll County has received $3.4 million from the Georgia Department of Community Affairs to acquire foreclosed residential real estate. After purchase and improvement, the properties will be sold to buyers who are eligible to participate in the Neighborhood Stabilization Program.
CLICK HERE FOR A LIST OF CURRENTLY ELIGIBLE HOUSES
First NSP Home Sale Celebration
Through the partnership between the City of Carrollton Neighborhood Stabilization Program and the Public Housing Family Self-Sfficiency Program, the public housing resident pictured above was able to purchase her first home. Pictured from left to right are RE/MAX United real estate agent, Diane McConahy and new NSP homeowner, Sandra Corea.
Sandra Corea, public housing resident turned homeowner, signs closing documents for her new NSP House. Pictured with her are Phil Wilkins of Tisinger Vance, P.C. and Diane McConahy of RE/MAX United.
The Neighborhood Stabilization Program will help workforce individuals and families realize the dream of home ownership. Buyers may receive contributions for down payment assistance, closing costs, a deferred second mortgage, as well as education on homeownership. In order to be eligible, the buyers must:
1. Be a U.S. citizen, qualified alien or a non-immigrant
2. Be able to qualify for a mortgage.
3. Attend (or take online) an 8-hour HUD class.
4. Home must be your primary residence.
5. Meet income qualifications. (See chart.)
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