Monticello, NY – Properties in Sullivan County subject to this year’s tax foreclosure proceeding can be redeemed through April 30, 2022.
“The current redemption date is January 31,” explained County Treasurer Nancy Buck. “However, I extended it due to the relief that the State has just begun offering this week.”
The New York State Homeowner Assistance Fund is providing monetary aid to homeowners with financial hardships associated with the coronavirus pandemic.
State law permits owners of properties facing foreclosure to “redeem” those properties – removing them from the foreclosure list – by paying the outstanding taxes and associated penalties before a foreclosure sale is conducted.
“While I could restrict this extension just to those who can prove a COVID-19-related hardship, I don’t believe my office should be picking and choosing,” Buck added. “We want everyone to remain in their homes and keep their properties for as long as they are able. The very last resort is foreclosure – which we undertake reluctantly and carefully, according to State law.”
“If this extra amount of time is the key to someone retaining their home and land, I’m glad that we can offer it to the taxpayers,” she affirmed.
For more information, contact the Treasurer’s Office at 845-807-0200.
What Is the NYS Homeowner Assistance Fund?
The State of New York has advised that a homeowner may be eligible for assistance if they are delinquent with any of the following items due to hardship caused by the COVID-19 pandemic:
• Mortgage payments
• Property taxes, water or insurance charges
• Homeowners’ association or maintenance fees
• Manufactured home loan or retail installment contracts.
A homeowner is defined as a New York State resident who owns a home and occupies that home as their primary residence (meaning it is where they live for the majority of every calendar year).
Types of eligible homeowners include:
- Mortgaged homeowners who are in a forbearance plan or were offered a forbearance plan that has expired; this may be a first and/or a second mortgage.
- Mortgaged homeowners who were not offered a forbearance plan, or missed the option to apply for one, and are considered delinquent on their first or second mortgage.
- Homeowners who are behind on payments for property taxes, water bills, or sewage bills.
- Co-op or condo homeowners who are behind on monthly carrying charges such as maintenance fees or homeowner association payments.
- Homeowners who live in manufactured homes and who are behind on home loans or retail installment contracts used to purchase their homes.
Homeowners whose household income is equal to or less than 100% of the Area Median Income (AMI) and who are at risk of foreclosure and/or displacement due to financial hardship as a result of the COVID-19 pandemic are eligible to apply. The AMI for Sullivan County is $79,900 for a household of one to five people, $83,300 for a six-person household, $89,050 for a seven-person household and $94,800 for a household with eight or more.
This is a State program that does not involve the Sullivan County Treasurer’s Office, so those who are interested should visit https://www.nyhomeownerfund.org for eligibility and application information.