Law Signed Last Week By Rick Snyder Makes It Easier for Homeowners To Avoid Tax Foreclosures
Michigan Governor Rick Snyder signed a series of bills into law last week that will make it easier for homeowners facing tax foreclosures to negotiate payment plans with their respective counties.
Two of the bills allow counties to set up payment plans with people facing tax foreclosure and allow the county to waive additional interest costs once the payment plan is approved by the county treasurer and homeowner.
Detroit Mayor Mike Duggan claims that this would help the nearly 20,000 homeowners facing tax foreclosures this fall.
“More than 20,000 Detroit homeowners now have the ability to restructure their property tax debts to avoid foreclosure and stay in their homes. We will be working closely with the Wayne County Treasurer Raymond Wojtowicz and the Detroit Land Bank to make sure Detroiters facing possible foreclosure are aware of this important opportunity.”
Snyder also signed another bill that requires bidders on foreclosed properties to register with the county 14 days before the tax sale. The law is intended to give local officials time to see if the bidder is delinquent on taxes on other properties or blight fines.
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