Reaching Out To Property Owners On City Lien List
The Greater Ridgewood Restoration Corporation (GRRC) announced that staff has contacted all property owners in Community Board 5 (Ridgewood, Glendale, Maspeth and Middle Village) who are on the lien sale list published on the internet by the New York City Department of Finance.
This is a list of owners who are delinquent on their property taxes, water, sewer or other charges. New York City no longer forecloses on buildings that are delinquent. Instead they sell the lien to an authorized third party, who becomes the lienholder. The lienholder purchases the right to collect the money plus interest that is owed to the city.
If the lien is not paid within a stated time, the lienholder can begin a formal foreclosure proceeding. Property owners can prevent the sale of a lien by either paying the full amount of the debt or by entering into a payment agreement.
The city sends letters to property owners, but the GRRC has found that many times the address is incorrect, or the owner does not understand what is happening. Hence, the GRRC contacts all property owners in Community Board 5’s confines who are on the lien sale list.
This year, the lien list started with 542 locations, but that number has now dwindled to 302. The GRRC will continue to attempt to contact those property owners who are still on the list.
There are to date 240 property owners that took the steps needed with the Department of Finance and/or the Department of Environmental Protection (DEP) to keep their properties. Several property owners have called the GRRC to say they were not even aware that they were on the lien list.
Angela Mirabile, executive director of GRRC said, “This number is high and we urge property owners to see if they qualify to be excluded from the lien sale.” She also stated that property owners should not let their taxes and water bills go unpaid, and urged them to make payment arrangements.
Some property owners are eligible to sign agreements, thus holding off the sale of the lien. However, an owner may not be able to enter into a new agreement if he/she defaulted on a prior agreement with the Finance Department and/or the DEP. Liens for all unpaid debts will be sold, unless resolved, on or after today, Thursday, May 16.
Paul Kerzner, president of GRRC said, “The city charges 18 percent interest on unpaid liens. Once the liens are sold, the new holder can charge 23 percent.” He also stated that payment agreements could be as long as 10 years. Individuals will be billed quarterly or may pay monthly.
Anyone who requires additional information regarding liens can go to nyc.gov/finance. The Greater Ridgewood Restoration Corporation is also available to help on these matters. Contact them at 1-718-366- 8721 for information and counseling. There is no charge for their services.
