Occupants buy the tax foreclosed home you live in before the auction for $500 down
A new PILOT program in Detroit will allow Detroiters who now occupy a home that have been foreclosed to acquire the house for just $500 down and a note, usually for the balance of the taxes. That’s right, should I repeat this? If you live in a home that has been foreclosed, regardless if you are a tenant or homeowner, you can now buy the house for just $500 down provided you act this week.
All applicants will be able to buy the home only if you currently reside in it. This program allows tenants to buy homes regardless if there is a mortgage on it or not. all mortgages are wiped out as a result of foreclosure. Applicants will also be required to take a 4-hour course, no credit is needed just $500 down!
Herb Strather is a Detroit advocate and the CEO of Strather Academy
Please visit www.stratheracademy.com/rps to contact us regarding the RPS program.