Godlike Productions - Discussion Forum
Users Online Now: 1,598 (Who's On?)Visitors Today: 425,706
Pageviews Today: 722,071Threads Today: 177Posts Today: 3,464
08:00 AM

Rate this Thread

Absolute BS Crap Reasonable Nice Amazing

New York City set to sell tax liens on homes damaged by Hurricane Sandy to debt collectors

Little Willie
Offer Upgrade

User ID: 23554071
United States
05/14/2013 04:11 PM
Report Abusive Post
Report Copyright Violation
New York City set to sell tax liens on homes damaged by Hurricane Sandy to debt collectors
Just when you thought there was hope for people to recoup some hope for their families, Mayor Bloomberg and his cronies decide to stir the shit up and make the little peoples' lives more miserable. Only in New York, folks.

Talk about kicking someone when they’re down.

Hundreds of New York City homeowners hurt by Hurricane Sandy are about to get hit by another blow — the sale of their tax liens to debt collectors, the Daily News has learned.

Tax liens — unpaid property taxes, water bills and other property-related charges — are sold annually by the city to third parties who charge hefty interest payments and fees.

Often, homeowners whose liens are sold end up in foreclosure because they can’t keep up with the added cost.

This year, many of the liens belong to homes damaged in Brooklyn and Queens. As of a month ago, 720 homes were caught up in this mess, according to data compiled by the Center for New York City Neighborhoods.

“The sale of debts to third parties will saddle these already struggling homeowners,” said Josh Zinner, co-director of the Neighborhood Economic Development Advocacy Proje, which promotes economic justice.

The interest alone that can be charged by a debt collector on a home valued at less than $250,000 can be as high as 9%; it can be higher for more expensive homes.

Other fees include an upfront surcharge of 5% of the lien amount, and thousands of dollars in legal and other fees, Zinner said.

Judy, a homeowner in Canarsie, said her basement was flooded in the storm and damage to her home was not covered by insurance. On top of that, she owes $8,000 in water and sewer bills to the city.

In January, she learned that her tax liens would be sold to third-party debt collectors after seeing her home listed in the newspaper.

“We are already stressed financially,” Judy said. “We’re trying to get back up from the devastation.”
More here if interested: [link to www.nydailynews.com]