The Quicken Loans Community Fund recently announced key findings from its 2019 Neighbor to Neighbor campaign, a partnership with the City of Detroit Board of Review to provide Homeowners Property Tax Assistance Program (HPTAP) applications to 25,000 homeowners behind on their property taxes, and a $1 million investment into the City’s 0-percent interest home repair loan program.
“The Neighbor to Neighbor campaign and workshops are driving meaningful and sustainable reductions in property tax foreclosures, allowing thousands more Detroit residents to experience the housing stability they need and deserve,” said Laura Grannemann, vice president of the Quicken Loans Community Fund. “Over the last three years, however, the Neighbor to Neighbor campaign has engaged countless homeowners who should have qualified for a complete property tax exemption but were unaware of the process. In order to reach everyone at risk, we are proud to partner with the Board of Review to proactively ensure every homeowner has access.”
Last year’s Neighbor to Neighbor campaign saw an increase in the number of individuals who self-reported they would be eligible for a complete property tax exemption based on income guidelines, with 87 percent of homeowners surveyed reporting they met the threshold. A staggering 55 percent indicated they were unaware of the HPTAP exemption.
Of the 6,242 renters in occupied homes that were tax delinquent, 75 percent of those who would be eligible for the Make It Home program said they were interested in owning their home. According to Quicken Loans, turning renters into homeowners is one of the most impactful ways to address tax foreclosure because it keeps residents securely housed, creates new homeownership and prevents a property from entering the tax foreclosure auction.
Many Detroit residents in tax delinquent properties identified significant repair needs, with 38 percent of 13,889 homeowner-occupants contacted by Neighbor to Neighbor stating their structures need critical maintenance. Homeowners are often forced to make decisions to defer upkeep in an effort to maintain ownership, creating potentially unsafe conditions for elderly residents, children and others, according to Quicken Loans.
To address this, the Quicken Loans Community Fund has made $2 million of investments into increasing access to repair resources. Most recently, they made a $1 million investment into the City of Detroit’s 0-percent interest home repair loan program, which provides loans of up to $25,000 to Detroit homeowners.
Overall, the 2019 Neighbor to Neighbor campaign saw a 59 percent contact rate, a nearly 7 percent increase over 2018. The 150 paid canvassers were Detroit residents hired by partner organizations through grants provided by the Quicken Loans Community Fund.
The entire Quicken Loans Community Fund Neighbor to Neighbor 2020 Update can be viewed here.
For more information, please visit www.quickenloans.com.