State money to prevent foreclosure

State money to prevent foreclosure

Since the national housing bubble burst a few years ago, many homeowners have had trouble making mortgage payments.

But the state of Michigan has some federal money available to help homeowners.

The U.S. Treasury Department has funded the Step Forward Michigan program.

The Michigan State Housing Development Authority is distributing the money.

But it’s not only for mortgage foreclosures.

Marquette County Treasurer Anne Giroux says she recently learned about the program because it’s now open to people at risk of property tax foreclosures as well.

The program provides up to $30,000 for each eligible homeowner who joins.

Giroux says the program takes from 30 to 60 days, and since property taxes from 2010 have to be paid by March 31st to avoid foreclosure, anyone wanting to enter the program because of a property tax issue needs to act now.

Many U.P. banks, credit unions and county treasurer’s offices have already joined Step Forward Michigan, and more are expected to join in the near future.

If you’re interested in applying, you can find out how to do it by clicking here.

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