CDBG - Homepage
Neighborhood Stabilization
CDBG Program Office
127 Church Street
Suite 270
Marietta, GA 30060
(770) 528-4600
(770) 528-4613 fax
Community Development Block Grant (CDBG) Program Office
Process for Applying: About The Program .gif) Frequently Asked Questions Cobb County Priority Areas Step 1:
Buyer Questionnaire Step 2:
Lender Pre-Qualification Step 3:
Buyer Profile Step 4:
NSP Application For additional information, please contact the NSP office: 127 Church Street, Suite 310 Marietta, GA 30060 PH: (770) 528-7980 Fax: (770) 528-7985 Email: info@BuyCobb.com |
About the program
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.
Through grants, state and local communities will purchase foreclosed or abandoned homes to rehabilitate, resell or redevelop. The goal is to stabilize neighborhoods and stem the decline of home values.
This HUD federal program is authorized under Title lll of the Housing and Economic Recovery Act of 2008.
Cobb County will receive approximately $6.9 million from HUD and $1.7 million from Georgia Department of Community Affairs to acquire and redevelop foreclosed residential real estate in Cobb County’s areas of greatest need.
See ‘Cobb County Priority Areas
’ link for more information
Benefits of the program
Cobb County’s Neighborhood Stabilization Program is committed to helping workforce individuals and families realize the dream of homeownership. To accomplish the goals of the program, Cobb County will purchase vacant, foreclosed residential real estate in areas of greatest need, rehabilitate and sell these homes to buyers who are eligible to participate in our program.
Buyers will benefit in the following ways:
- “Move-in” ready home
- Up to $10,000 in down payment assistance and closing costs *
- Up to $20,000 in a forgivable second mortgage *
- Homeownership education
- Be a U.S. citizen, qualified alien or a non-immigrant
- Be able to qualify for a mortgage
- Attend an 8-hour HUD class
- Home must be your primary residence
- Meet income qualifications
Family Size |
Maximum Income |
1 |
$59,800 |
2 |
$68,350 |
3 |
$76,900 |
4 |
$85,450 |
5 |
$92,300 |
6 |
$99,100 |
If interested, please contact the NSP office and you will be instructed on the process to determine eligibility. It’s as simple as 1, 2, 3, 4.
* Restrictions Apply