DETROIT, Oct. 30, 2017 /PRNewswire/ — The Quicken Loans Community Investment Fund (QLCIF) has partnered with the United Community Housing Coalition (UCHC) and eight community development organizations to launch an extensive education effort addressing the pervasive issue of tax foreclosure in Detroit. This door-to-door outreach will attempt to reach all 60,000 residential properties behind on property taxes and connect residents at risk of tax foreclosure to resources. Underutilized tools to prevent foreclosure include a property tax exemption for owner occupied homes and an option for disabled veterans. The “Neighbor to Neighbor” program, funded by the QLCIF, is now accepting applications for additional community groups and block clubs to join the peer-to-peer effort and help those at risk of tax foreclosure with the goal of reaching all residents facing this challenge.
“No one organization can do this work alone,” said Laura Grannemann, vice president of investments for the QLCIF. “We need everyone working together to connect Detroit residents with the tools that will keep them in their homes and allow them to continue building equity as the city grows.”
In May 2017, the QLCIF partnered with UCHC to knock on the doors of 3,300 occupants of Detroit homes facing the 2017 tax foreclosure auction. The outreach effort helped the residents of 2,100 homes ultimately avoid tax foreclosure and remain in their homes.
Due to the success of this work, the QLCIF has announced this $500,000 “Neighbor to Neighbor” fund to expand the work and engage additional local organizations in outreach efforts. Canvassers will be paid hourly out of the QLCIF grant.
The following community groups will participate in the first phase of the rollout:
- Cody Rouge Community Action Alliance
- Central Detroit Christian
- Eastside Community Network
- Grandmont Rosedale Development Corporation
- Osborn Neighborhood Alliance
- Bridging Communities, Inc.
- Black Caucus Foundation
The Quicken Loans Community Investment Fund is a for-more-than-profit enterprise that has a passion for investing in people and place to open doors to opportunity for Detroiters. This program is the latest addition to the Quicken Loans Family of Companies’ long legacy of supporting solutions to systemic challenges facing Detroit’s neighborhoods, like widespread blight, tax foreclosure, and access to affordable housing.
There are roughly 60,000 homes behind on their property taxes in Detroit. Many of these homeowner’s may qualify for a full or partial property tax exemption. Families facing financial hardship, residents living in poverty and disabled veterans may be eligible to stay in their home.
This program is part of a wider initiative to maintain the integrity of Detroit neighborhoods and ensure Detroiters have the opportunity to build equity as the city continues to grow. Other work includes:
- Rehabbed & Ready—Quicken Loans made a $5 million commitment to rehabbing publicly owned homes in partnership with the Detroit Land Bank to boost home values, increase access to financing, and reactivate Detroit homes.
- Affordability—Bedrock, a full-service commercial real estate firm within the Quicken Loans Family of Companies, signed an agreement with the City of Detroit committing to dedicate 20 percent of its residential portfolio to affordable housing. This agreement includes the development of new housing, as well as preservation of existing affordable units.
- Blight Removal Taskforce—Dan Gilbert, founder and chairman of Quicken Loans, co-chaired the Blight Removal Taskforce, which brought stakeholders together to provide resources and leadership toward increasing data access regarding blight, advocating for Hardest Hit Funds, and bringing partners together to address blight in our communities.
- Renter to Owner—Quicken Loans Family of Companies made it possible for 80 renters to become homeowners this year. Using funds donated by QLCIF, families in these homes facing displacement because their landlords failed to pay property taxes were given an opportunity to purchase their home for $2,500 – $5,500.
About Quicken Loans
Detroit-based Quicken Loans Inc. is the nation’s second largest retail home mortgage lender. The company closed more than $300 billion of mortgage volume across all 50 states between 2013 and 2016. Quicken Loans moved its headquarters to downtown Detroit in 2010, and now more than 17,000 team members from Quicken Loans and its Family of Companies work in the city’s urban core. The company generates loan production from web centers located in Detroit, Cleveland and Scottsdale, Arizona. The company also operates a centralized loan processing facility in Detroit, as well as its San Diego-based One Reverse Mortgage unit. Quicken Loans ranked “Highest in Customer Satisfaction for Primary Mortgage Origination” in the United States by J.D. Power for the past seven consecutive years, 2010 – 2017, and highest in customer satisfaction among all mortgage servicers the past four years, 2014 – 2017.
Quicken Loans was ranked No. 10 on FORTUNE magazine’s annual “100 Best Companies to Work For” list in 2017, and has been among the top 30 companies for the past 14 consecutive years. The company has been recognized as one of Computerworld magazine’s “100 Best Places to Work in IT” the past 13 years, ranking No. 1 for eight of the past 12 years, including 2017. The company is a wholly-owned subsidiary of Rock Holdings, Inc., the parent company of several FinTech and related businesses. Quicken Loans is also the flagship business of Dan Gilbert’s Family of Companies comprising nearly 100 affiliated businesses spanning multiple industries.
Article originally published here: https://michronicleonline.com/2017/10/30/quicken-loans-community-investment-fund-launches-neighbor-to-neighbor-campaign-to-connect-residents-with-tax-foreclosure-resources/