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Three Open Houses This Weekend for Buyers Neighborhood Stabilization Program Features 3 Homes in Paulsboro

(Paulsboro) - Gloucester County and the Borough of Paulsboro are pleased to announce the completion of three homes renovated under the Gloucester County Neighborhood Stabilization Program (NSP).

Open houses for 413 Morton, 417 Morton Avenue and 405 Summit Street in Paulsboro are scheduled for Saturday, April 30th from 10:00 a.m. to 2:00 p.m. All interested buyers are invited to attend.

These homes are among the 13 foreclosed or abandoned homes in the NSP Program that are being fully renovated, including, but not limited to, roof replacement, new heating and air conditioning units, new water heater, new windows (dual pane), insulated exterior doors, new appliances, new flooring, interior paint, baseboards, attic insulation, smoke detectors, new plumbing and electrical, inspection for termites and lead-based paint, exterior paint and new front yard landscaping.

The units at 413 and 417 Morton Avenue are both two bedroom ranches located on a quiet street in Paulsboro and will be sold for $80,000. 405 Summit is a three bedroom split level, also being sold for $90,000. The homes are in "move-in" condition. The homes are located convenient to schools, public transportation, shopping, medical services, a public park and recreation areas.

With $2.5 million received in Neighborhood Stabilization Program (NSP) funding, Gloucester County is substantially rehabilitating 13 foreclosed or abandoned homes in Woodbury and Paulsboro.

Gloucester County Freeholder Director Robert M. Damminger said, "This program is a great way for residents who qualify for the program to become homeowners." This is an exciting time in Paulsboro with the construction of the Port we are seeing a renewal of our neighborhoods. I grew up in Paulsboro and it is exciting to see the progress and revitalization happening."

Freeholder Heather Simmons said, "This federally funded program is helping us take properties that were a drain on neighborhoods and turning them into an asset for the community."

Simmons, who is the liaison to the Department of Economic Development, said that of the 13 homes the county is rehabilitating, 8 are still available for purchase.

Buyers pay no more than 35% of their gross household income for housing costs (mortgage, real estate taxes, and homeowner's insurance). Applicants will be required to have a minimum credit score of 620 in order to obtain mortgage pre-approval. Down payment and closing cost assistance may be available.

For Sale: 417 Morton Avenue, Paulsboro

If you are interested in applying to purchase this unit, or one of the additional units located in Paulsboro or Woodbury, call Triad Associates at 856-690-5749 to request a Preliminary Application. Pre-applications are also available at www.triadhousingprogram.com.