Keeping Occupants in a Foreclosed Home
Once again, I’m thanking Kelly Anbach, inspector for the Village of Hinsdale for finding out about a new program. Detroit is working with lenders to keep foreclosed homes occupied with a special program, ROOF (Retaining Occupancy On Foreclosure) whereby former owners of these homes are allowed to stay in them if they pay for the utilities, a fee tied to their income and other costs. When the homes are sold, occupants can receive refunds of up to 50% of the monthly fees they have paid, if they have maintained the property and moved out on time. This sounds like a great way to keep the maintenance up on the property until a new owner takes over. You can read more about it at: http://www.freep.com/article/20091122/COL06/911220515/1322/Detroit-program-to-keep-people-in-foreclosed-homes
