The Bridges to Homeownership
is a Program to Stabilize and Revitalize Detroit’s Neighborhoods by Converting Occupants into Homeowners
What We Do
Our goal is to create social value and to…
Empower a stable long-term owner or tenant
Employ Detroit-based tradesmen and laborers to renovate
Return homes to the property tax base of detroit, wayne county and future geographies
Help the Detroit Land Bank Authority reduce its inventory of foreclosed property
Invest capital in homes with the goal of reducing blight, restoring property values and improving neighborhoods
How Does This Work?
Detroit City Ordinances require all purchased properties to meet City Code or face penalties, the BTHO Program was created to give qualifying families financial support that is unavailable in the current retail banking market.
The Program purchases homes from the Detroit Land Bank Authority.
We work with the occupant to determine both the property and their eligibility. The Program is not for everyone, but is designed to be a tool to help eligible families purchase their home.
We do not focus on how the occupants came to live in the home, their credit score or past foreclosures or bankruptcy. The basic requirement is that you have a provable source of income, pay your bills on time and demonstrate the ability to make the monthly land contract payment.
We then renovate the home to meet the Detroit City code requirements.
“Bridges to homeownership”
Black Caucus Foundation of Michigan