Home / Daily Dose / Michigan Governor Signs Legislation to Mitigate Foreclosure Issues
Print This Post Print This Post

Michigan Governor Signs Legislation to Mitigate Foreclosure Issues

A news outlet in Detroit said officials from the city and Wayne County have taken action against problems it has had with foreclosures. 

Michigan Gov. Gretchen Whitmer signed a bill into law Monday, allowing for relief on late payment fees, back taxes, and fines.  A report said 31,000 low-income residents in Wayne County can qualify for the program. 

Detroit Mayor Mike Duggan said there are hoops to jump through when signing up fo4r the Pay as You Stay Program. 

“Fill out that form and get it in, and if you get it in and it gets approved by the city by March 28, treasurer Eric Sabree will stop any foreclosure process right now,” Duggan said.

The income thresholds are on a sliding scale, starting at $22,000 or less for an individual or $32,000 with a family of four.

Detroit announced Wednesday it is expanding its Homeowners Property Tax Assistance Program (HPTAP).

The main change to the program is that it will now offer a 25% property tax exemption to homeowners within certain income thresholds. Previously, homeowners could qualify for either 50% or 100% property tax exemptions if their incomes were below certain amounts. Now homeowners earning above those amounts can also qualify for some tax assistance.

The program previously offered 100% property tax exemptions to families of two earning $22,754 or less. Families of two earning $23,336 or less could qualify for a 50% property tax exemption.

Under the updated program, families of two earning $25,703 or less can qualify for a 25% property tax reduction. For a full chart of income eligibility and information on applying for a full or partial property tax exemption, residents can visit the city of Detroit's website. The city is now accepting applications.

“This year we set out to increase the number of Detroit families assisted through HPTAP, and I am proud of our work in collaboration with Quicken Loans Community Fund, United Community Housing Coalition, and community groups to meet this goal,” said Detroit Chief Financial Officer David Massaron with the announcement of the HPTAP program expansion.

About Author: Mike Albanese

Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville.
x

Check Also

flooding

Study Shows Americans Ill-Prepared for Flooding

During a time of increased mortgage delinquencies, storm surges can have an even more devastating effect on those who are underinsured, experts say.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.