Created: 11/17/2009 6:32:07 PM 
Kernersville, NC -- It may not look like much right now, but Ashley Teeler and Chris Dellisanti have big plans for one foreclosed home in Kernersville.
"Everything's going to be different, completely, by the time we're done [renovating]," Dellisanti said.
The couple is just days away from closing on this house. When they do, they'll be just the fifth new homeowners in Forsyth County to take advantage of the Neighborhood Stabilization Program (NSP).
"We stumbled upon a goldmine, pretty much," Dellisanti said.
Under the program, eligible buyers who purchase a qualifying foreclosed home can get a loan for up to $20,000 that's good toward a down payment. If the homeowners stay put for 20 years, the loan is forgiven.
Teeler and Dellisanti are only using a $5,000 loan for their down payment and they're getting an extra $20,000 grant to make repairs to the house with no strings attached.
"It's just about the best Christmas present ever," Teeler said.
"What [the NSP] does is changes lives and of course, helps the neighborhoods," said Bianca Green with the Forsyth County Housing Authority.
About 700 homes have gone into foreclosure in Forsyth County this year alone. The NSP will get people into those homes, bring them back up to spec and help neighboring homeowners boost their own property values.
"I think the more of these that we can turn over and get back up, we'll help the market stay stable," said Becky Hutchinson, the Realtor representing Dellisanti and Teeler.
And that's exactly what the couple is hoping to do.
"We want to do our part, buying a house, to help stabilize the economy," Teeler said.
"It's undoubtedly setting up our community to prosper more," Dellisanti added.
Forsyth County and the City of Winston-Salem teamed up to offer the program there and got almost $3 million dollars worth of stimulus money to make it happen. But only a handful of people have taken advantage of it so far, so there's plenty of money available.
The program is also being offered in High Point and Greensboro. For more information, click here.
As for Dellisanti and Teeler, they hope to move in to their home by Christmas.
