So far, according to Campbell, 115 properties have been "redeemed"--that is, removed from the foreclosure list either by paying the back taxes or by entering into a payment agreement with the City. There are, however, 36 properties still on the list, and those 36 properties owe $2.1 million ($1.4 million in principal and $700,000 in interest). Ten of the 36 properties owe 83 percent of that amount, or $1,743,000; five of the properties owe 64 percent of that amount, or $1,344,000. A list of the properties still on the foreclosure list has not been made public.
Campbell indicated that there were some properties still on the foreclosure list that owe less than $1,000. She said a letter would soon be going out to these property owners warning them that if they do not pay the balance due they will soon incur the cost of a title search, which is the next step in the foreclosure process.
The sale of 98 Paddock Place, which the City took possession of through foreclosure in 2017, is likely to happen in April. In May 2025, $184,853.28 was owed in principal and interest. The amount is likely more now.
Although the City took possession of the house in 2017, the owner continued living there until just a few months ago. At the February 9 meeting of the Common Council Infrastructure and Code Committee meeting, Rob Perry, Superintendent of Public Works, shared pictures of the interior of the house taken recently, after the owner had moved out.
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It is not actually the case that a sales surplus—the delta between the amount the property sells for and the total back taxes owed—automatically returns to the previous owner. That surplus is given over to the court that handles the foreclosure process, and the previous owner then has three years to claim the surplus. Further, any reasonable costs associated with the foreclosure and sale can be applied against the surplus. For example, if the city wanted to clean out the property to make it more attractive for and/or remove that burden from a buyer, it could subtract the clean out cost from the surplus.
ReplyDeleteMeanwhile, the city people continue to own and maintain the vacant property with a tree in the middle of it and a horrible sidewalk out front somewhere around 516 Columbia. Why is there never any talk about SELLING that property? What on earth does the city own that property for, where a house once stood and one could stand again IN THE HANDS OF SOMEONE ELSE who might actually pay property taxes? Is there a department of Common $ense at City Hall that might handle something as difficult as this? Or is this an investment property?
ReplyDeleteAmazing how much has been accomplished by at the very least pretending to care. When you had a previous administration that openly stated it would not enforce payment to the city for taxes, parking tickets, etc. It’s no wonder we’re seeing so much compliance in comparison. Look at how much more the police are getting in unpaid parking tickets just by trying a little harder
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