Foreclosure Grants Available
Foreclosure Grants Available
The City of Detroit was awarded a CDBG-R grant for $9.9 million. From that grant, $1.2 million was earmarked to provide housing assistance to eligible City of Detroit residents who are at risk of losing their home through means of foreclosure.
Southwest Housing Solutions was awarded $272,519 of that $1.2 million to distribute to struggling homeowners. We have listed below some of the eligibility requirements for the program:
• Property must be in the City of Detroit
• Must be the legal owner of property
• Property must be your primary residence AND you must live in the home
• Mortgage delinquency status cannot exceed three (3) months of arrearages
• Property taxes must be current – (Note: there are some exceptions; call for more
details)
• Homeowner must be able to show stable income
If you, or know ANYONE who you think might qualify for this program, please have them call the Housing Opportunity Center immediately and request an Intake Package at 313.841.9641 or stop by the office and pick one up. We have an EXTREMELY small window of opportunity to help eligible City of Detroit Residents, so it is imperative that we act quickly. Any funds that have not been used by the August 31, 2012 deadline, will be returned to the City of Detroit and then, eventually, back to the Federal Government. Thank you for your assistance in spreading the word and please do not hesitate to call our office with any questions.
