Dan Gilbert announces $500M investment in Detroit neighborhoods
READ: Local organizations to invest $500M into Detroit, eliminate homeowner property tax debt for thousandsThe funds will start with help for homeowners with overdue property taxes. “No person should have to make the decision of the choice between keeping them home of feeding their family,” Gilbert said. Gilbert and his wife, Jennifer, are pledging half of a billion dollars through the Gilbert Family Foundation and the Rocket Community Fund to make a real impact on the problems people face. “I’d much rather see property taxes paid, interest and penalties waived, fees waived, fees removed and people have the ability to pay their taxes,” Evans said. AdTo learn more about the organizations’ investment, visit the Gilbert Family Foundation’s website here.
Local organizations to invest $500M into Detroit, eliminate homeowner property tax debt for thousands
One major announcement: Part of the investment will eliminate property tax debt owed by tens of thousands of low-income Detroit homeowners. According to officials, an initial investment of $15 million from the Gilbert Family Foundation will be used to establish the Detroit Tax Relief Fund. Through the fund, an estimated 20,000 low-income homeowners in Detroit will have their property tax debt completely wiped away. The Rocket Community Fund operates under the company. “This impactful announcement comes with a promise of a brighter future and a deepened commitment to Detroit.”AdTo learn more about the organizations’ investment, visit the Gilbert Family Foundation’s website here.
ACLU pushes for Wayne County to extend protections from foreclosure
DETROIT – The battle over foreclosures in Wayne County took a new turn Thursday in Detroit. The American Civil Liberties Union wants the county to protect many from foreclosure for years to come. The county has taken action to protect those struggling by suspending all foreclosures through the end of the year. Now the ACLU wants to take it a step further protecting those from foreclosure for years to come. Local 4 reached out to the Wayne County Treasurer’s Office but calls have not been returned.
Hard times hitting home? Here are ways to avoid foreclosure amid pandemic
As soon as you realize you might have trouble making your mortgage payments, you’ll want to get in touch with your lender. You do not want to wait until you can’t pay your bills to contact your lender. If foreclosure is something you fear you might face, the following are options you may have available to you. Mortgage forbearanceAccording to USA.gov, federally backed home loans can get six months of mortgage help, and Federal Housing Administration reverse mortgages are eligible, as well. There are many options available to you, but the bottom line is: Contact your lender, and do not wait until it’s too late.
Michigan launches mortgage relief partnership amid coronavirus: How it could help you
Participating financial institutions are listed on the MiMortgage Relief Partnership Financial Institutions page. Participating financial institutions are listed on the MiMortgage Relief Partnership Financial Institutions page. “Through the MiMortgage Relief Partnership, financial institutions will continue to help customers find the solutions that best fit their needs, and to focus relief efforts on those most impacted by the crisis. Borrowers with these loans may wish to visit the CFPB guide to coronavirus mortgage relief options. For more information on COVID-19 related mortgage relief, see: www.michigan.gov/MiMortgageRelief or call DIFS toll-free at 877-999-6442.