Tax lien sale

In the lien sale, the city bundles qualifying delinquent liens — taxes, water charges, other eligible receivables past their thresholds — and sells them to a trust, which adds fees and pursues collection with foreclosure available behind it. Owners receive escalating notices before sale, and exclusions and payment plans exist for categories the law protects; the annual lists of at-risk properties are public.

For analysis, lien-sale appearance is a dated public marker of sustained delinquency, and post-sale liens compound at rates that make cure increasingly expensive. A building recurring on at-risk lists across years is describing chronic distress; one that cures late each cycle is describing cash management on the edge.