DETROIT – When the sub-prime bubble popped, an estimated 10,000 Detroiters lost their homes -- many of them because their homes were over-assessed
The Detroit City Council announced a new plan Tuesday that features an eight-part program aimed at giving those who lost their homes a path to owning a new home in Detroit.
The plan is likely to pass as five of the nine councilmembers are co-sponsors.
The program includes:
- 50% discount on any auction or Detroit Land Bank property
- Preferential hiring for the City of Detroit
- Children and grandchildren getting preference to paid youth programs
- Preferential access to Detroit at work job search and career services
- Preferential enrollment in the City’s Rehab Academy
- Preferential enrollment in the Senior home retro-fit program
- Preference for the occupancy of affordable housing
- Preferential access to financial counseling
There were a variety of reasons people lost their home. For instance, those who were in arrears for taxes may not be eligible, but if you were in arrears because of the over-assessment, you will be eligible for the programs.