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The duplex unit in Bridgeport had been abandoned by its previous owners and built-up $12,500 in property taxes owed to the city of Bridgeport. Interest and penalties had swelled the bill to $27,000. The city seized the property through foreclosure and sold it to Habitat for Humanity.
But the overdue taxes, plus penalties and interest, had to be paid before Habitat could rebuild and sell the home. Propel Financial Services, which held a lien on the home’s property tax bill, recently stepped in and paid off the late taxes on behalf of Habitat for Humanity.
“That was a huge help to us because we can’t sell a home that has a lien on it,” said Stuart Adelberg, CEO of Habitat for Humanity of Coastal Fairfield County. “Thanks to Propel, we’re now free to find a deserving family to work with us to rebuild and buy the home, which is at the core of Habitat’s mission – helping people with limited financial resources afford a decent place to live.”
Adelberg addedd that the home needs work to be ready for sale and hopes Propel’s donation will inspire other businesses in the area to help with the improvements.
“We’re glad we could help Habitat for Humanity take the first step in getting this house ready for a family that needs a home,” said Dale Kocher, Propel Financial Services director of Acquisitions. “Habitat for Humanity does so much to provide clean, secure housing to low-income families and we are honored to support their community redevelopment efforts.”
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