Lien Sale Event Thursday for Homeowners With NYC Debt

BROOKLYN

The city is holding a sale next month at which outstanding tax liens for unpaid property taxes, water and sewer charges, emergency repairs or other municipal services can be sold to third-party companies for collection.

To prevent that, Councilman David G. Greenfield is inviting all homeowners with outstanding liens to attend his free public event this Thursday, April 18 from 12 noon to 2 p.m. at his district office, 4424 16th Avenue. Those who wish to attend should call (718) 853-2704 to make an appointment

This meeting will provide homeowners the opportunity to meet directly with representatives from the Department of Finance, the DEP, and the Department of Housing Preservation and Development to find out if they can be exempt from the lien sale, receive debt assistance or create a payment agreement. It is critical for homeowners to act before the May 16 deadline to avoid having the lien sold to a third-party company.

Once the lien is sold, third-party company can apply high interest rates to the amount owed, along with other administrative fees. In addition, once the company places a lien on the home, it has standing as a creditor. That means it can be paid from the proceeds of a sale or a refinancing. Liens must be cleared before the home can be sold, and a homeowner is at risk of having his property foreclosed on if outstanding liens are not resolved within six months.

On Thursday, homeowners will have a chance to enter into a payment agreement with the city at a lower interest rate than what a third-party company generally charges. Some seniors, veterans and disabled individuals are exempt from the lien sale.

“I hope that all local homeowners with unpaid debts will take advantage of this opportunity,” said Greenfield.

The event, which has been held in previous years, is effective in helping homeowners resolve their outstanding New York City debt.

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