DETROIT (AP) – Wayne County is extending a special interest rate reduction program for taxpayers facing home foreclosure.
Treasurer Eric Sabree says the deadline now is June 28 for the program which allows eligible homeowners to enter payment plans for delinquent taxes at a 6-percent interest rate instead of 18 percent.
The deadline had been June 7.
The Interest Reduction Stipulated Payment Agreement is only available to people who own their primary residence. Still, Sabree’s office says it will help hundreds of families stay in their homes.
Numerous homes and other properties in Detroit and Wayne County are at risk for foreclosure due to unpaid 2014 property taxes.
More than 14,000 tax-foreclosed properties in Wayne County were scheduled for auction last year. About 28,000 homes were foreclosed on in 2015.
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