New York City postponed a controversial property tax and water debt lien sale from May 20 to June 3 to allow homeowners additional time to address their debts. Officials noted that lien buyers may intensify pressure on debtors through increased interests and potential foreclosures. Although a $2 million city initiative sought to assist homeowners, only a third of delinquent properties were removed from the lien list. The program aims to mitigate adverse effects on low-income and non-White communities as it resumes after a pause during the pandemic.
The city's Department of Finance noted the delay in the lien sale is to provide homeowners more time to protect their properties and address outstanding debts.
"We are targeting owners that have indicated they're interested in resolution... but haven't taken the steps to remove themselves," a department spokesperson said.
Despite a $2 million campaign to assist homeowners, only about one-third of delinquent properties were removed from the lien sales list.
The lien sale program, paused in 2020, is resuming with intentions to limit its negative effects on poor and largely non-White citizens.
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