7,500 Sign Up For Tax Repayment Plans To Avoid Foreclosure

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7,500 Sign Up For Tax Repayment Plans To Avoid Foreclosure

7,500 Sign Up For Tax Repayment Plans To Avoid Foreclosure

CBS Detroit-

About 7,500 Detroit homeowners have entered into payment plans on their back taxes to prevent foreclosures.

Mayor Mike Duggan and Wayne County Treasurer Raymond Wojtowicz said Tuesday that thousands of others have until the end of the month to do the same.

New laws signed by Gov. Rick Snyder in December cut interest rates from 18 percent to 6 percent for homeowners behind on their taxes, reduced down payments to get into plans and put a cap on overall past due taxes.

[CBS DETROIT]

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