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100+ Detroiters Earn Deeds through Detroit Land Bank Authority’s Buy Back Program this Summer – City of Detroit

100+ Detroiters Earn Deeds through Detroit Land Bank Authority’s Buy Back Program this Summer

DETROIT – More than 100 Detroiters are now homeowners, securing stable housing for their family
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100+ Detroiters Earn Deeds through Detroit Land Bank Authority’s Buy Back Program this Summer

DETROIT – More than 100 Detroiters are now homeowners, securing stable housing for their family
through the Detroit Land Bank Authority’s Buy Back program. Participants received their deeds at the DLBA’s final exit event this summer on August 31st at the Guardian Building. The Buy Back program
offers people occupying DLBA-owned houses an opportunity to purchase the property for just $1,000 if
they successfully complete a year of homebuyer counseling and save up enough money to pay their first summer tax bill.

Since 2016, a thousand people have purchased houses through Buy Back, and so far, more than 900
have successfully exited the program and received their deed.

The goal is to provide a pathway to homeownership, specifically for families and individuals who lost
their homes to foreclosure but never left, were victims of real estate or landlord fraud, or have another
significant connection to the house. “Our Buy Back program is a one-of-a-kind opportunity in the City of Detroit to help those in precarious housing situations find not just stability, but actually become
homeowners,” says Detroit Land Bank Authority CEO Tammy Daniels. “For some this may be their first
time owning their own home and for others, this program allows them to regain ownership of a home
that used to belong to their family. Either way it’s a major accomplishment and the land bank is proud to be a part of it.”

 

City Council Member Coleman A Young, II, new homeowner Michelle Brown, and Mayor Mike Duggan.

 

Mayor Duggan greeting new homeowner Damien Clark.

 

 

Who is eligible?
To qualify for the Buy Back program, individuals must currently live in a DLBA-owned house and have a connection to the property that meets at least one of the following conditions:

  • They are the most recent owner of record before the property was acquired by a public entity
  • They are a former renter in the property
  • A family member was a former owner of the property
  • They have paid for utilities at the property for at least 12 consecutive months
  • They are the victims of real estate or rental fraud at the property
  • They have received current and prior year state or federal documents at the property related to
    income, benefits, or services

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Source: https://detroitmi.gov/news/100-detroiters-earn-deeds-through-detroit-land-bank-authoritys-buy-back-program-summer

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