Wed., March 20: 12 noon
Wayne County Treasurer’s office
400 Monroe, Greektown, Detroit
Thurs., March 21, 12 noon
Michigan State Housing Development Authority Office
State of Michigan Building, Cadillac Place,
3028 W. Grand Blvd., downtown Detroit.
STOP TAX FORECLOSURES
Demand that Wayne County Place an Immediate Moratorium on all Tax Foreclosures
Demand that MSHDA Immediately Release the Federal Hardest Hit Homeowner Funds
The State of Michigan has $204 million in federal Hardest Hit Homeowner funds available to pay off delinquent property tax bills of up to $30,000 for homeowners facing tax foreclosures. With these funds available, there is no excuse for any homeowner to lose their home to tax foreclosure.
Join us is demanding that Wayne County place an Immediate Moratorium or Halt on All Tax Foreclosures of Occupied Homes while we fight to get these federal funds released to pay off delinquent bills. Demand that your tax foreclosure be stayed to give an opportunity to apply for Helping Hardest Hit Homeowner Funds.
And let’s demand that the Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA) and Michigan State Housing Development Authority (MSHDA) drop all regulations that stand in the way of these funds getting immediately disbursed. MSHDA bureaucrats have sat on hundreds of millions of dollars in Helping Hardest Hit Homeowner funds, rather than using them save thousands of homes, since the program was initiated in 2010.
MORATORIUM ON TAX FORECLOSURES WILL HELP ALL TAXPAYERS
Every taxpayer pays for tax foreclosures. After a home is foreclosed, especially in Detroit, the County sells it for a fraction of what is owed, usually to an investment company. The difference in the purchase price (say $500) and the amount owed (say $3000) is charged back to the City of Detroit. This year alone the City of Detroit is paying over $80 million in chargebacks on tax foreclosures.
Stopping tax foreclosures and fighting to get the federal Helping Hardest Hit Homeowner funds released will save the City of Detroit tens of millions of dollars, aiding homeowners, stabilizing communities, and helping to eliminate the city deficit.
FORECLOSE ON BANK-AND INVESTOR OWNED HOMES, NOT OWNER OCCUPANTS
Most tax foreclosed homes are being bought up by investors, who descend on Detroit like vultures to pick up properties for next to nothing at tax auctions. When the homeowner tries to re—purchase the home, the investors charge an exorbitant amount to make a quick profit of the people’s misfortune. Or these investors never pay the property taxes, then sell the homes to unsuspecting buyers who find themselves in tax foreclosure with huge back bills.
Rather than foreclosing on homeowners, Wayne County and the City of Detroit should go after the deadbeat banks and vulture investors to pay the property taxes on homes they stole from the people through their fraudulent practices.