The Georgia Dream NSP (Neighborhood Stabilization Program)Loan is a second mortgage up to $14,000. for qualified buyers who purchase a foreclosed home in certain counties in Georgia. This loan is for all buyers, not just first time home buyers, but you must buy a bank owned, government owned or eligible non-profit owned property. The home must also be in a designated county that has been identified as an area of greatest need.
Eligible buyers must have a total household income less than 120% of the area median income. This second mortgage is forgiven if the borrower lives in the home over a 5 1/2 year period. The amount of the second mortgage (the NSP loan) is up to 10 percent of the purchase price and cannot exceed $14,000.
It's true. There are some great deals out there, but they go quickly. I've noticed Buyers are hesitant to write contracts because they are afraid they may have missed something. If you find a good deal, don't wait. I have had Buyers enter a home, ooh and aah, say they love the home, this is it, this is the one, then turn around and say they want to see some more homes to be sure. After showing them more homes they decide to write a contract only to find out the home of their dreams is under contract. I actually had this happen several times to three different couples over the last few months. The fact is, a good deal is a good deal is a good deal. The good deals don't last just because it is a Buyer's Market. When you find a home, buy it!
Okay, so this has nothing to do with real estate. I just had to brag. I won third place with this photo at the Sweetwater Camera Club last night. I'm just excited about it!
This beautiful 4BR/4BA home is located at 181 Barberry Lane, Dallas, GA 30132 in Madison Park Subdivision. Over 3100 SF with about $40,000. in upgrades. Granite counter tops, tiled floors, hardwood floors, sueded faux paint, upgraded lighting, cable and phone jacks in all rooms including kitchen and covered back porch. Exterior shed in back yard.