ECONOMY

Last-ditch foreclosure hearings draw hundreds of Detroit homeowners trying to save properties

Hundreds of Detroit homeowners at risk of losing their property are flocking to hearings that offer them a last-ditch chance to avoid foreclosure from tax debts.

The homeowners nearly filled a long conference room in Detroit's Cobo Center while waiting for their cases to be heard. Many hoped to work out payment plans.

Detroit's neighborhoods have yet to recover from the national mortgage crisis. More than 60,000 city properties are in foreclosure, putting them at risk of being added to a huge glut of vacant houses.

Detroit is believed to have the largest number of foreclosures at any one time in the county.

Gov. Rick Snyder signed a bill this month that allows homeowners facing financial hardship to use a payment plan to pay off debts and avoid foreclosure.