DETROIT - Wayne County Executive Warren C. Evans today announced the county will add $5 million to the $15 million the Gilbert Family Foundation and the Rocket Community Fund have pledged to fight home foreclosures.
"Keeping people in their homes is the surest way to create a strong, vibrant Wayne County," said Executive Evans. "Foreclosure is not an economic process. It is a social process, and its impact reaches far beyond those who lose their homes."
The tax foreclosure program is part of a $500 million, 10-year gift to the City of Detroit announced today by Dan and Jennifer Gilbert.
Approximately 5,500 County residents are still in their homes because of the Pay As You Stay (PAYS) program. The extra $5 million from the County will help expand the PAYS program to Out-Wayne County.
"Just like PAYS has raised the awareness of the foreclosure epidemic, Dan and Jennifer's generosity today is paving the way for more help. And their gift will have a positive impact on some of Wayne County's most vulnerable communities. As a matter of fact, we believe so strongly that Dan and Jennifer's gift will be a great benefit to the county that we are going to put some skin in the game, too."
Wayne County's $5 million will come from its General Fund/General Purpose budget. The money will be administered by Wayne Metro (the Wayne Metropolitan Community Agency).
Wayne Metro will focus on three key areas:
- Expand the Pay As You Stay program to more Wayne County Communities. Not all Wayne County communities have participated in the program and this will help more do so.
- Expand the Make It Home program, which helps renters living in homes facing foreclosure buy the house for themselves.
- Provide legal assistance to homeowners facing foreclosure and help renters in homes facing foreclosure protect their rights.