Program turns renters into homeowners
DETROIT, Mich. – A pilot program turned 80 Detroit renters into homeowners.
Often times, Renters are booted out of their houses when the landlord puts the property up for auction.
But now the Detroit has partnered up with United Community Housing Coalition, allowing 80 tenants to buy their homes for a portion of the taxes before the property is put up for auction.
Officials say the city will buy the houses for about $5,000.
So then the tenants can own the home within a year by paying $500 a month.
The tenants were chosen based on factors like motivation and financial ability to maintain the home and pay the property taxes in the future.