If there’s a lien on your home or other property, it’s best to address it right away. That’s because municipal governments are increasing turning to private collections agencies to recover unpaid property taxes. These private collections agencies often use more aggressive and punitive tactics than the government, and charge higher interest rates.
Many whose liens change hands from public to private, including senior citizens who have lived in their homes for decades, now face losing their homes to these aggressive collections efforts. In some cases, homeowners who land on a public lien list may also become vulnerable to financial predators looking to take advantage of their financial plight.