In most of these proceedings, the courts are not involved. Michigan is a nonjudicial foreclosure state. That’s because families facing hardship are working hard to keep their homes. There are also lots of possibilities for changes along the way, as these things rarely go in a straight line. That sounds simple enough when it’s put into bullet points, but this process takes many months to complete. There are four basic steps that a homeowner goes through during the Detroit foreclosure process. Basics of the Detroit foreclosure process Image credit: Doug Zuba via Unsplash Wayne County also has a myriad of financial literacy programs and other places to find support in financially challenging times. It’s an insidious problem, and it’s critically important that you contact the Wayne County treasurer’s office if you’re behind. Penalties are heaped onto homeowners if they get behind on their property taxes. Tax foreclosure rates in the Detroit area are particularly high. They do make it easier for owners to retain their property. Payment plan options from the Wayne County Treasurer in Detroit, MI don’t lower the price of past due taxes. This is important news for Detroit businesses and families who are delinquent on their tax bills.ĭetroit properties are able to negotiate with the Wayne County Treasurer’s Office to bring tax bills from prior years up to date and prevent tax foreclosure. The current program is an extension of one targeted towards individual homeowners called the Distressed Owner Occupant Extension (DOOE). Though this Wayne County program is primarily beneficial to landlords and by extension their rental tenants, it’s nonetheless a potential place for assistance. This only applies to those who are behind within a reasonable amount of time, around three years. People facing tax foreclosure now have options to spread out their payments over a longer period of time with this new system. At the very least the city gives them more information on property tax foreclosure and how to prevent it. County officials have been working with owners in the past two years to increase the number of neighborhood houses that are exempt from tax foreclosure. The good news is that Wayne County implemented a series of new supports to help people in this difficult situation. There was a moratorium on foreclosure across the nation during the pandemic that expired in 2021. Neighboring cities within the area are also under the guidance of the Wayne County Treasurer with regard to property tax foreclosure. The tax foreclosure process is overseen by the Wayne County Treasurer’s Offices. As jobs have left the city, there’s been an increase in the number of people who struggled to pay their mortgage or their property taxes. The economic realities of Detroit and the surrounding areas are a major driver in these rates. That equates to about four hundred and fifty homes across the state of Michigan. Roughly one in every ten thousand homes was foreclosed on in Wayne County during the last year. The Detroit area is most impacted by people losing their homes. Michigan ranks right in the middle of the United States as far as foreclosure rates. No matter the reason that a homeowner in Detroit is facing potential foreclosure, the answer is to learn what the process looks like and to find out if there is assistance available to prevent foreclosure.
Though these are not a guarantee that cities in Michigan will be able to totally recover, it is a step in the right direction. To address the problems in Detroit, MI, the state government of Michigan and the federal government have both put in supports in recent years to help families who are facing hardship. Non-auto industry businesses have found themselves unable to cover operating costs. This left a massive hole in the job market all over the country, and it hit Michigan very hard. Automobile manufacturers, which were the primary employer in the Detroit metropolitan area, have largely moved their production to other parts of the world. This reality makes the city much more vulnerable to economic decline. Over the last several decades, Detroit has seen a steady decline in the auto industry. While the Detroit foreclosure process is never an easy one to face, it’s important to know what to expect in order to get to the best outcome possible. Particularly in the last few years, there’s been a lot of financial strain on working families. Individuals facing foreclosure are in a tough situation, no matter how they got to this place.
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