Mortgage help for Detroit homeowners behind in their payments

Detroit homeowners who have fallen behind on their home payments may qualify for up to three months of mortgage assistance through a special and limited-time program available through our Housing Opportunity Center (HOC).

The HOC was recently awarded $272,519 from the City of Detroit to be distributed to eligible homeowners at risk of foreclosure.

To be eligible for this program, the homeowner:

Must have a household income that falls at or below 80% of the Area Median Income (AMI). This figure varies according to family size. For a family of four, for example, the household income cannot exceed $52,250 to quality for the program.
Must live in the home in Detroit as the primary residence.
Must be the legal owner of property.
Must be three or less months behind on the mortgage payments.
Must be current on property tax payments. (There are some exceptions to this requirement, so contact us for more details.)
Must show a stable income.

The funds for this program came from a federal grant provided to the City of Detroit in early 2009. The grant is a Community Development Block Grant issued as part of the Recovery Act (CDBG-R).

The City recently dispersed the funds (amounting to $1.2M) to five certified housing counseling agencies in Detroit, including the HOC. The agencies must distribute their portion to eligible homeowners by the end of this August. Unused funds must be returned to the City, which then likely will have to return them to the federal government.

Thus, there is an urgency to find and process homeowners who qualify for the program.

For information about the program, email Grace or Lupe. Or call the HOC at 313-841-9641 and ask for either Grace of Lupe.

Because of the limited time-frame, we urge you act to immediately if you or anyone you know may be eligible for this mortgage assistance.