Lisa Oden

On June 25, 2009 Gwinnett County announced its Neighborhood Stabilization Program (GCNSP) to a group of REALTORS and Mortgage Professionals. The GCNSP is a program to purchase foreclosed homes of sub-standard condition then rehabilitate and return those homes to market with the hope of stabilizing Gwinnett County home values. Additionally, the program will provide affordability assistance to potential buyers by way of homebuyer counseling, down payment assistance and a "forgivable" second mortgage. Under the program, homes will be available to low, moderate and middle income home buyers.

The GCNSP will receive funding from a July 2008 program of grants to local and state governments, enacted by Congress. Gwinnett County has been allotted $13,512,054 towards the program, of which $10 million is from HUD with the remaining portion from the State. This pre-TARP program is expected to have 100 homes rehabilitated and under contract by September 5, 2010, and provide the same results for the next 4 to 5 years through the recapture of invested funds.

Since Gwinnett County is not positioned to buy, renovate and sell houses, a group of Asset Managers has been assembled to administer the process. The Asset Managers are a team of local contractors and REALTORS® selected through proposals submitted to the County. The Asset Manager's role will be to identify properties to the county believed to be suitable for the program. Once selected, the Asset Manager will purchase, own, manage, rehabilitate and finally market the properties.

For a property to qualify for the program, it must be lender owned with lender holding title. Short sales, potential short sales, pre-foreclosure and fresh off the courthouse steps are not eligible for the program. The home must already be vacant and built in 1978 or later. This includes single family homes both attached (townhomes) or detached (stand alone). Guidelines for purchase price and HUD requirements also apply. Areas of Gwinnett have been ranked by census tract using the HUD estimated foreclosure abandonment risk score. This ranking will provide the foundation for allocation of funds. Higher risk areas or areas of greatest need will be targeted directly with the State level funding, while Federal level funding will be dispersed across the county.

Foreclosed properties are identified by using information from Listing Agents, Financial Institutions, Tax Records, Real Estate Listing Services/Websites, the FHA and GCNSP. Once properties have been approved for the program, GCNSP provides the funds for Asset Managers to purchase the homes and carry them through the process through from rehabilitation to final market sale. Rehabilitation can be extensive to include some or all of the following: new flooring, heating/cooling systems, updated kitchens & baths, paint inside and out, replacement of polybutylene plumbing, new roof, landscaping, windows, decks, sidewalks & drives, siding and energy efficiency upgrades. Once upgraded, Asset Managers will work with their real estate agents to market the properties for sale. Listings will be made available through common real estate marketing practices using both MLS systems, and any other places/methods with which the real estate brokerages participate. GCNSP will also print brochures in 4 different languages and distribute through schools and community centers. Additionally, the county will maintain a website with available homes at www.nspgwinnett.com.

Buyers eligible to purchase GCNSP homes are first time homebuyers, single parents*, surviving spouses of military servicemen and servicewomen or spouses of public protectors, homebuyers employed by governmental units, educational providers or health providers. *Can not own other residential property at time of contract to purchase. Any of those listed must meet program income requirements. Buyers must invest at least 1% of purchase price, qualify for a 30 year fixed rate first mortgage, complete 8-hour pre-purchasing clasee from a HUD approved housing counseling organization, and must be buyer's principal place of residence. Affordability assistance in the form of down payment assistance (up to $7,500) and a "soft second" mortgage (up to $15,000) is available to home buyers. The "soft second" funds can be used to set up escrows, buyer's closing cost, homeowner's insurance, association fees, other settlement costs and/or applied to principle. The "soft second" is made at 0% interest and is forgivable over a 15 year period.

Click here to view the GCNSP implementation flow chart, or here for a program summary. Visit the county website at www.nspgwinnett.com for further information.

Turn into the Mulberry Park entrance from HWY 211, stop and pick-up a good cup of coffee, or something for dinner, pass the beautiful shade tree in roundabout and you're home. The Township at Mulberry Park is situated at the crossroads of 4 counties to include: Barrow, Gwinnett, Hall and Jackson, yet still maintains that "off the beaten path" feel. Nearly 500 single family homes and townhomes make up this mostly craftsman style community, with some developed lots still available. Students attend one of the Winder/Barrow, Mill Creek, Jackson High School or Flowery Branch school clusters, according to the county of his/her address.

Like many other areas, the Township at Mulberry Park has faced its share of foreclosures and distress sales. The many beautifully landscaped and manicured home sites, next to some which have been left without occupants and routine care are evidence of that. However, this community appears to have an active HOA and residents who care about its overall well being. Hopefully, as the foreclosures are purchased and occupied by new neighbors, the current residents will see some welcome relief. According to a current resident, a new builder is purchasing lots to resume home building in the community. Though no timeline was offered, this is hopefully a good sign of things to come.

Amenities at the Township at Mulberry Park include a clubhouse, swim/tennis, a neighborhood playground and fabulous greenspace for a quiet walk, picnic or viewing wildlife right in your own neighborhood. A lovely wooden bridge with walkway leads you by car or by foot, from one side of the neighborhood, to the other. Shopping and restaurants only a short walk or bike ride away offer great convenience.

A short drive will lead you to many other opportunities to get out and enjoy nature, a sporting event or picnic at one of the numerous area parks. Parks closest to the Township at Mulberry include; Fort Yargo State Park, Duncan Creek, Little Mulberry Park, Platt Park, Cedar Creek Reservoir, Williams Mill Greenspace, West Jackson Park, Sell's Mill Park Jeffries and the Houndstooth Grill & Tavern are a just a couple of the food options just outside your front door.

You'll find actively listed homes from $137,000 to $205,000, and townhomes from $109,000 to $159,000. Wow, what a time to find great value and a fabulous new home!

Many homeowners are being met with increasingly difficult circumstances which threaten their financial stability making it difficult to stay in their homes. If you have experienced or anticipate job loss, reduced hours, the loss of overtime or bonuses or other such income reducers, there are steps you can take to increase your ability to remain in your home.

Making Home Affordable is a piece of the Financial Stability plan recently released by the Obama administration, in an attempt to stabilize the housing market. This program provides consumer education and opportunity to take advantage of Loan Modification or Refinance. These programs are open to borrowers who are current in mortgage payments as well as those who've fallen behind.

Hope for Homeowners was introduced by Congress in fall of 2008 as a way to help those in danger of foreclosure refinance for a more affordable mortgage. The program began on October 1, 2008 and runs through September 30, 2011. Your mortgage must have originated before January 1, 2008. There are debt to income ratio and other determining factors for participation. Contact your existing lender, or another reputable lender to learn more about how Hope for Homeowners can help you.

Hope Now is a national alliance of HUD approved counselors along with mortgage industry professionals aimed at providing assistance in the prevention of foreclosure.

The Impact Group is a Lawrenceville, GA based non-profit agency dedicated to assisting residents of metro Atlanta and Northeast Georgia. Programs are offered to assist with foreclosure avoidance, community revitalization and development, rental housing, and transitional housing to assist families overcome homelessness.

If you are concerned for your financial stability or just want to better position your assets in case trouble strikes take action sooner, rather than later. Maintaining control of your financial situation will make difficult times easier to navigate and good times that much better!

The Collins Hill Athletic Association (CHAA) is pleased to announce that we are joining with some local organizations to bring much needed food supplies to our community. 5 Loaves and 2 Fishes is an association of diverse businesses, faith based organizations, and other groups located in North Georgia that have identified a need in our communities to help weather the current economic storms. As part of this effort, CHAA is joining with the Collins Hill Ward of the Church of Jesus Christ of Latter-day Saints to provide much needed canned goods for our local community. The recipient of our food donation will be The Quinn House, located in Lawrenceville, GA. We are asking all members of the CHAA family to donate any and all canned food items that you feel inclined to donate. There will be 2 drop locations set up at Collins Hill Park where you can make your canned food donation. The drop areas will be large boxes at the concession stands and will be clearly marked by posters identifying them. We will be hosting these drop locations for two Saturdays. The first day will be tomorrow, Saturday, April 18^th, and the last Saturday to make the donation will be Saturday, April 25^th. The drop areas will be set up from 9AM to 7PM. As you come to the park for ball games and other activities during the next two Saturdays, please remember to bring your canned food with you to leave in the drop boxes. This food will greatly help people within our own community that are passing through extreme difficulty due to our Nation's current economic crisis.

Sincerely,

Collins Hill Athletic Association Executive Board

Links to websites of participating organizations:

http://www.chaasports.com

http://www.fiveloavesandtwofishes.org/Loader.aspx?section=Home

http://www.thequinnhouse.com/

Questions regarding this initiative can be directed to Jimmy Richards at 770-891-1774

Citizens of Gwinnett - You do not have to be an association member to contribute, or enjoy a great day at the park. Collins Hill Park is for all of us to enjoy. Come out, spend a day at the park and get to know your neighbors!

Don't Love Your Junk. Get Rid of It!!

Whether you

• need to achieve retail condition to sell today,
• have items left over from updating a wholesale home, or
• just want to find some more space

love your home, not your junk, by trashing and recycling it!

First 200 cars receive the initial release of Results' 2008 Forsyth Market Recap!

We'll be accepting all types of electronics and junk. There is no limit to the amount of electronics but there is limited capactiy available for junk. Junk items for disposal will be on a first-come-first-served basis and must be moveable by two strong people. Small fees apply for tires ($5), batteries ($10), paint ($5 - 1 gallon can) and propane tanks ($10).

Event sponsored by Results Realty Services.