Philadelphia is actively pursuing a tax lien sale, as a way to recoup some of the nearly half-a-billion dollars it’s owed in back taxes and penalties.
News Story (Pennsylvania)
KYW (local CBS, Philadelphia)
August 12, 2016
READ THE FULL STORY HERE
Tags: Debt Collection, Housing: Foreclosure
Organizations mentioned/involved: Community Legal Services (CLS) of Philadelphia
But some are urging caution, noting a similar effort 20 years ago, during the Rendell administration, ended badly.
“I’m very concerned about this,” says attorney Monty Wilson of Community Legal Services, which helped dozens of homeowners avoid tax lien foreclosure, last time around, and more recently saved the home of an 80-year-old widow who’s tax lien was sold to a hedge fund in a pilot lien sale last year. “We have tried that before and it didn’t go very well in the end.”
The RFP was announced at a City Hall news conference, last month, where Councilman Allen Domb, a real estate investor and the moving force behind the effort, talked about fairness for the 92 percent of property owners who do pay taxes, thus footing the bill for tax delinquents.