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Tax Collecting

Member Information Home > Township Topics > Services and Programs > Tax Collecting > How Townships Can Assist Homeowners Facing Foreclosure

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How Townships Can Assist Homeowners Facing Foreclosure

 View of neighborhood homes from sidewalk [Click here to view full size picture]

Real estate foreclosures have been in the news lately as Michigan homeowners have experienced high foreclosure rates. Mortgage foreclosures occur when the homeowner defaults on the mortgage; tax foreclosures occur when the property taxes are not paid. (See the May 2008 Financial Forum column for a discussion of foreclosures and how township revenues may be financially affected by foreclosures over time.)

 

Townships do not have the same authority to assist homeowners as federal or state government entities--or private organizations--but there are things township officials can do. 

 

As the government most accessible to residents, townships can provide the extra bit of customer service to make information available to homeowners regarding available deferments, exemptions, tax credits and human services resources to help prevent mortgage or tax foreclosures.

 

The township can direct homeowners facing tax foreclosure to the county treasurer, who can often assist delinquent taxpayers with payment plans.

 

If properties are foreclosed, a township can participate in several programs to prevent blight and put tax-reverted properties back in use and on the tax roll:

 

Avoiding Mortgage Foreclosure

The Real Property Tax Foreclosure Process

Tax Deferments, Exemptions and Credits

Homeowner Resources

  • HUD Michigan Resources This Michigan-specific HUD site links to resources and agencies around the state to help homeowners in financial crisis.
  • Michigan State Housing Urban Authority (MSHDA) Homeownership Web page The MSHDA provides information about foreclosures and the foreclosure process, information on where to turn for help, and offers a referral service for homeownership counseling. 
  • MSHDA “Save the Dream” Program Web site Homeowners can also call (866) 946-7432, a hotline that directs homeowners to a housing counselor in their county or to technical experts in MSHDA’s Homeownership Division.    

Neighborhood Revitalization/Blight Elimination

 

 

This page last updated on 5/29/2008.
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