Housing Fair Opens Possibilities in Detroit during National Homeownership Month
LANSING, MICH. – (RealEstateRama) — The Michigan State Housing Development Authority along with local community partners will be at the Wayne County Community College District on June 7 and again on June 21 to talk to current and future homeowners about buying a home, foreclosure prevention, mortgage modification and credit repair.
“There are quality programs available to help people looking to buy a home in Michigan and for those that need some help getting back on track,” MSHDA Executive Director Kevin Elsenheimer said.
Potential homebuyers can find more information about MSHDA’s Own MI Home program, offering up to $7,500 in down payment assistance to qualified buyers. Other programs that will be on display include HomeLIFT, which offers up to $15,000 in forgivable down payment assistance and the Detroit Home Mortgage Program that gives buyers the option to purchase or refinance plus rehab for loans up to $75,000.
Existing homeowners that need help staying in their home can learn more about foreclosure prevention through Step Forward Michigan. This program provides interest-free loans up to $30,000 to assist with mortgage, property taxes and/or condominium association fees.
Local partners on hand to talk about mortgage modification, credit repair and answer home buying questions include the Wayne County Land Bank, Wayne County Treasurer’s Office, Fifth Third Bank, Huntington Bank, Southwest Solutions and U-Snap-Bac.
“As the housing market continues to recover, homeownership month is a good time to raise awareness about the opportunities that exist for people who are ready and able to buy a home and the support available for homeowners who need a little extra help keeping their home,” MSHDA Homeownership Director Mary Townley said.
The housing fair will be open from 11 a.m. to 7 p.m.
The Michigan State Housing Development Authority (MSHDA) provides financial and technical assistance through public and private partnerships to create and preserve decent, affordable housing for low- and moderate-income residents and to engage in community economic development activities to revitalize urban and rural communities.*
*MSHDA’s loans and operating expenses are financed through the sale of tax-exempt and taxable bonds as well as notes to private investors, not from state tax revenues. Proceeds are loaned at below-market interest rates to developers of rental housing, and help fund mortgages and home improvement loans. MSHDA also administers several federal housing programs. For more information, visit www.michigan.gov/mshda.
Contact:
Misty Miller
MSHDA Communications
517-373-1858
