New Detroit plan would help 31,000 residents avoid foreclosure

Detroit Mayor Mike Duggan announced the "Pay as you stay" plan on Wednesday. The housing plan is intended to help residents avoid tax foreclosure by easing the financial burden on the city's lowest earners. About 31,000 residents could help avoid foreclosure with the aid of the plan, which would eliminate all interest, penalties and fees and the only balance due would be back taxes or 10 percent of the home's value. The plan still needs approval by the state legislature.