Revival of Detroit Program Offers Lifeline to Homeowners Facing Foreclosure
In a bid to support struggling homeowners, Detroit has reinstated a vital program that provides relief for individuals facing foreclosure due to unpaid property taxes. The initiative, known as Pay as You Stay (PAYS), offers a lifeline to residents grappling with financial challenges.
Under the PAYS program, homeowners with overdue property taxes are granted a three-year window to settle their outstanding balance, with interest and fines being waived. This initiative aims to alleviate the burden on low-income Detroiters who are at risk of losing their homes.
Detroit Mayor Mary Sheffield emphasized the importance of aiding residents in need, stating, “Our neighborhoods are the heart and soul of Detroit, but keeping our neighborhoods strong means keeping the people who have invested in them strong.” Sheffield’s commitment to supporting vulnerable homeowners has been evident in her advocacy for programs like PAYS.
Additionally, Detroit offers access to the PAYS program to individuals who qualify for the Homeowners Property Exemption (HOPE) initiative. Through HOPE, eligible homeowners can benefit from an exemption from property tax payments for up to two years, providing further assistance to those facing financial hardships.
City officials report that since 2020, the combined efforts of the PAYS and HOPE programs have helped nearly 18,000 Detroit residents avoid foreclosure and retain ownership of their homes. This support is particularly crucial in a city grappling with the highest poverty rate among major cities in the U.S.
Mayor Sheffield’s dedication to aiding low-income Detroiters has been a focal point of her leadership, underscoring the city’s commitment to safeguarding the well-being of its residents and preserving the fabric of its communities.
