WUOMFM

Step Forward program now has millions to help homeowners avoid foreclosure

Jul 29, 2016

During the Great Recession, a lot of people ran into financial trouble and lost their homes to foreclosure. Some still are. And in Wayne County, the number of homes at risk of tax foreclosure is staggering. The Michigan State Housing Development Authority (MSHDA) has several programs to help eligible people.

One of those programs is called Step Forward. It funnels federal dollars from TARP (Troubled Asset Relief Program) into the hands of low-income homeowners and potential homeowners.

MSHDA Executive Director Kevin Elsenheimer joined Stateside to talk about the Step Forward program. He says it's well-funded, but there hasn't been enough of a response. Elsenheimer says MSHDA has "millions and millions of dollars" to use give homeowners the relief they need to help with their financial situation or to help low-income people buy homes. 

Listen to the full interview above to hear Elsenheimer talk about how the Step Forward program works, and who is eligible.
 

GUEST: Kevin Elsenheimer is the executive director of MSHDA