7,500 Sign Up For Tax Repayment Plans To Avoid Foreclosure
DETROIT (AP) — About 7,500 Detroit homeowners have entered into payment plans on their back taxes to prevent foreclosures.
Mayor Mike Duggan and Wayne County Treasurer Raymond Wojtowicz said Tuesday that thousands of others have until the end of the month to do the same.
New laws signed by Gov. Rick Snyder in December cut interest rates from 18 percent to 6 percent for homeowners behind on their taxes, reduced down payments to get into plans and put a cap on overall past due taxes.
The county held hearings earlier this year to allow homeowners to present their cases.
About 35,000 of at least 60,000 Detroit properties up for foreclosure starting Jan. 1 are believed to be occupied, with 18,000 owned by individuals or families living in them.
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Online:
http://www.waynecounty.com/treasurer
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