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What is this war DeBozo and Cuomo have with landlords?
“The latest nightmare: an upcoming tax-lien sale, where the city sells owners’ unpaid tax bills to a third party, which then moves to collect on them, along with 18 percent interest charges. Waves of foreclosures may soon follow.”
This is not new nor news; city has long held tax lien sales, and nearly every other local government has similar schemes.
Bottom line is anyone who owns property should either pay their tax/water/sewage bills, or work out something with city to pay off arrears. If that cannot happen then it's time to sell the property...
While reasons are numerous for falling behind one common thing for sewage, water and even property tax bills are people who just cannot afford to own property.
Plenty of first time home buyers struggled to even get the place, then find themselves even working all hours God gives unable to pay all debts/bills associated with owning property. People who rented most of their lives thus never paid a water bill get a surprise first time they see one.
People also run game by not allowing property, water, and sewer charges to be paid along with mortgage, and or setting up accounts to automatically pay. So again things build-up and they just cannot get out from under.
Since many of the landlords cannot collect rent from deadbeat tenants or evict them under the moratorium, where does the mayor expect to landlords to get the money?
What is this war DeBozo and Cuomo have with landlords?
“The latest nightmare: an upcoming tax-lien sale, where the city sells owners’ unpaid tax bills to a third party, which then moves to collect on them, along with 18 percent interest charges. Waves of foreclosures may soon follow.”
Property tax lien sales are standard practice all across the country and so is the 18% interest on the property taxes.
There are huge numbers of people all across the country who invest everything they have in purchasing tax liens because eventually they either get all of their money back plus the 18% interest or they get title to the property outright with a minimal investment(whatever the taxes were).These people salivate waiting for the tax sale lists to come . If they don't want to be bothered managing a property after they take title through foreclosure they can just dump it at a fire sale price and still make a killing. There will almost always be buyers. It's a great investment strategy and is as American as apple pie.
Since many of the landlords cannot collect rent from deadbeat tenants or evict them under the moratorium, where does the mayor expect to landlords to get the money?
It really doesn't matter. The landlords should be treated no differently than anyone else. Hundreds of thousands of people lose their homes every year because they get sick, lose jobs, etc and can't pay their property taxes. Nobody cares or wonders about their excuses or where they should expect to find the money. If you don't pay property taxes municipalities sell the tax liens and whoever purchases the lien can foreclose. The IRS can do the same for non payment of income taxes.
what is this war debozo and cuomo have with landlords?
“the latest nightmare: An upcoming tax-lien sale, where the city sells owners’ unpaid tax bills to a third party, which then moves to collect on them, along with 18 percent interest charges. Waves of foreclosures may soon follow.”
It really doesn't matter. The landlords should be treated no differently than anyone else. Hundreds of thousands of people lose their homes every year because they get sick, lose jobs, etc and can't pay their property taxes. Nobody cares or wonders about their excuses or where they should expect to find the money. If you don't pay property taxes municipalities sell the tax liens and whoever purchases the lien can foreclose. The IRS can do the same for non payment of income taxes.
Then the same should apply to the renters, instead of government using it's authority to decree that landlords cannot evict them, thereby ensuring failure. You're smart enough to know this. So just be honest and say, "screw the landlords."
I can't fathom why anyone would willingly become a landlord in NYC.
Many did it in the 70s or before and just haven't sold i suppose. It's a whole different ball game now.
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