Mayor Mike Duggan, Wayne County
Treasurer Eric Sabree, Wayne County
Executive Warren Evans and Detroit
shared the positive news at an event
today where they thanked dozens of
community volunteers who went
door-to-door to let at-risk
homeowners know about assistance
programs available to help them keep
their homes. (Photo by HB Meeks/Tell
Us Detroit)
Wayne
County
Treasurer
Eric
Sabree
(pictured
above),
Wayne
County
Executive
Warren
Evans
and
Detroit
Mayor
Mike
Duggan,
shared
the
positive
news at
an event
today
where
they
thanked
dozens
of
community
volunteers
who went
door-to-door
to let
at-risk
homeowners
know
about
assistance
programs
available
to help
them
keep
their
homes.
(Photo
by HB
Meeks/Tell
Us
Detroit)
Tax
foreclosures
of
owner-occupied
homes in
Detroit
down 88%
over
past two
years
•
Officials
credit
Interest
Rate
Reduction
program
and army
of
committed
community
volunteers
for
success
•
786
owner
occupants
foreclosed
in 2017
compared
to 6,408
in 2015
•
Overall
tax
foreclosures
down in
2017
lowest
since
2008
crash
DETROIT,
MI - Tax
foreclosures
in the
city of
Detroit
dropped
this
year to
their
lowest
levels
since
the
housing
market
collapsed
in
October
2008,
city and
county
officials
announced
today.
Specifically,
foreclosures
of
owner-occupied
properties
have
plummeted
by 88%
over the
past two
years.
This
year,
there
were 786
tax
foreclosures
involving
homes
that
were
occupied
by the
owner,
compared
to 6,408
just two
years
ago.
Overall,
tax
foreclosures
in
Detroit
–
including
vacant
abandoned
properties
– were
down 70%
from
24,793
two
years
ago to
6,315 in
2017.The
last
time the
foreclosure
numbers
in
Detroit
were
lower
was
2008,
just
prior to
the
mortgage
industry
collapse,
when
there
were
4,392.
Wayne
County
Treasurer
Eric
Sabree,
Wayne
County
Executive
Warren
Evans
and
Detroit
Mayor
Mike
Duggan,
shared
the
positive
news at
an event
today
where
they
thanked
dozens
of
community
volunteers
who went
door-to-door
to let
at-risk
homeowners
know
about
assistance
programs
available
to help
them
keep
their
homes.
“We are
pleased
to
reduce
foreclosures
in
Detroit
to the
lowest
level in
nearly a
decade,”
said
Sabree.
“Working
as a
team we
have
fought
hard to
reduce
foreclosures
throughout
Wayne
County
and have
reduced
that
number
by
72-percent
in just
the last
two
years.
Of the
43
municipalities
within
the
county,
12 had
zero
foreclosures
this
year and
15
others
had 10
or
less.”
The city
and
county
leaders
also
credit
the
Michigan
legislature
and
Governor
Snyder,
who
approved
critical
legislation
that
allowed
Wayne
County
to
create
the
Interest
Reduction
Program.
Under
the
program,
homeowners
are
eligible
to enter
into
payment
plans at
a
reduced
interest
rate of
6% --
compared
to the
usual
18% —
and pay
delinquent
taxes.
The
result
has been
a more
reasonable
monthly
payment
that
thousands
of
homeowners
have
been
able to
afford.
Since
the
program
began in
2015,
more
than
50,000
families
in
Detroit
that
faced
foreclosures
were
able to
avoid it
and keep
their
homes.
Thousands
of
homeowners
found
out
about
the
program
thanks
to their
own
neighbors.
More
than 15
neighborhood
groups
spread
out
across
the city
to knock
on doors
of those
at risk
of
foreclosure
to
educate
them
about
their
options.
Among
them
were the
United
Community
Housing
Coalition,
WACO,
Focus
Hope,
Marygrove
College,
Osborn
Alliance,
East
English
Village
Community
Association,
Grandmont-Rosedale
Development
Corporation
and
more.
Wayne
County
also
played a
critical
role in
helping
to get
the word
out to
residents
facing
foreclosure
to get
them
connected
with
assistance
programs.
Officials
also
pointed
out that
the
number
of
properties
at risk
fell as
well,
from
53,685
in 2016
to
36,804
in
2017.Overall,
more
than
30,000
properties
were
saved
from
foreclosure
this
year.
“I’d
like to
thank
everyone
who
helped
spread
the word
to their
neighbors
about
foreclosure
assistance
and ways
to stay
in their
homes,”
Evans
said.
“Today’s
numbers
are an
improvement.
I hope
we can
continue
to
reduce
these
numbers
even
further.
We’re
all
better
off with
people
in their
homes,
strengthening
our
neighborhoods
and
anchoring
our
communities.”
Mayor
Duggan
pointed
out that
the
steep
decline
in
foreclosures
is
another
indicator
of
steady
progress
being
made in
the
city.
Last
week,
newly
released
census
numbers
showed
the
poverty
rate
also
dropped
to its
lowest
levels
since
before
the
Great
Recession
and
household
incomes
increased
in
Detroit
at a
rate
twice
the
national
average
and four
times
the
statewide
average.
“We are
seeing
real
progress
in areas
that
impact
all of
our
neighborhoods,”
Mayor
Duggan
said.
“There
are
still
more
foreclosures
than we
want,
but we
never
would
have
made
this
level of
progress
without
the hard
work of
Treasurer
Sabree’s
office
and the
dozens
of
volunteers
who
organized
to help
these
families
stay in
their
homes.”