Step Forward Program Helps Save Homes from Foreclosure

Step Forward Program Helps Save Homes from Foreclosure
(Oakland County Treasurer Andy Meisner Press Release, Dec. 28, 2015)
Southfield, MI – With foreclosures causing as much as an 8 percent loss in property values of neighboring homes, according to the Federal Reserve of Boston, and Oakland County losing $14 billion in taxable value during the housing crisis, County Treasurer Andy Meisner makes foreclosure prevention a priority to protect the county’s bottom line and save families’ homes.
That’s why Meisner is promoting the Step Forward Michigan program to his Oakland County constituents, who have received $7 million to date, and that’s how Southfield homeowner Annette Chatman was connected with the Step Forward program, which prevented her foreclosure with $27,386 in support.
“Preventing foreclosure protects neighboring homes from losses in property values of over 8%,” says Meisner. “I want every eligible Oakland County homeowner to apply immediately for the Step Forward program and get a chance to save their home before the deadline of December 31, 2015.”
Chatman, 52, faced a hardship while caring for aging parents and paying to repair severe water damage at her home.
“(Step Forward) has allowed me a second chance and I am forever grateful,” she says.
Step Forward pays up to $30,000 in delinquent property taxes or past due mortgage payments for eligible homeowners. The program has limited funding remaining.
Applications for the federally funded foreclosure prevention program must be started by Dec. 31 and submitted by Jan. 31 and will be considered on a first-come, first-serve basis, according to the Michigan State Housing Development Authority.
To qualify for Step Forward, applicants must be facing a hardship that caused the delinquency, occupy their home, have delinquent taxes due, have cash reserves less than 1.5 times the home’s annual property tax bill and have an income, which can include Social Security or assistance payments.
So far the program has helped 841 Oakland County families keep their homes.
Homeowners can receive free help applying for Step Forward by contacting the Oakland County Treasurer’s Office Financial Empowerment Center at 248-858-0611.
For more information about Step Forward Michigan, visit stepforwardmichigan.org or call 866-946-7432.

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