Detroit Revives Foreclosure Prevention Initiative for Homeowners
In a bid to support homeowners grappling with unpaid property taxes, Detroit has reinstated a previously suspended program. The initiative, known as Pay as You Stay (PAYS), has been reactivated following renewed backing from the state legislature.
PAYS offers a lifeline to residents with overdue property taxes by allowing them a three-year period to settle their debts. The program notably forgives all related interest and penalties, easing the financial burden on affected homeowners.
Mayor Mary Sheffield emphasized the importance of sustaining the city’s neighborhoods by supporting the residents who have invested in them. “Our neighborhoods are the heart and soul of Detroit, but keeping our neighborhoods strong means keeping the people who have invested in them strong,” Sheffield stated during a press briefing on Thursday.
To access PAYS, homeowners must apply for and qualify for the Homeowners Property Exemption (HOPE) program, which provides a waiver from property taxes for up to two years. Together, these programs have been instrumental since 2020, preventing nearly 18,000 Detroit residents from losing their homes to foreclosure.
Detroit’s economic challenges are underscored by it having the highest poverty rate among major U.S. cities. Supporting low-income residents is a priority for Mayor Sheffield, aligning with one of the central themes of her mayoral campaign.
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