Naive question of the week

A

ABC123_IHB

New member
I was looking at the <a href="http://www.mypublicnotices.com/OrangeCounty/PublicNotice.asp">Action and Sale Notices</a> on the Register website and came across a NOTICE OF TRUSTEE'S SALE UNDER A NOTICE OF DELINQUENT ASSESSMENT AND CLAIM OF LIEN and Notice of Sale is: $12,426.51 for a condo in Turtle Ridge. Can someone really go to the courthouse a buy the property for that amount or is it being totally naive to even think that? I looked up one of the names on the OC court website and it has a JUDGMENT - UNLAWFUL DETAINER. What exactly does that mean?
 
Without knowing which property it is exactly (I searched that site for notices in the last 7 days using "Irvine" as a keyword and I got 163 results... WHOA!), I can assume it is a lien for delinquent HOA dues. No, you can't go and buy the property at the auction for less than $13k, but you can buy the HOA lien for that. The HOA will appreciate it, and so will the owner, but as soon as the first lien forecloses then you are wiped out. First is first, and every other lien but the property taxes gets nada when the first forecloses. You would need to check if any of the other liens are in default. I would bet that they are.



The judgment will have to be answered by one of our legal minds, and they would probably still need to look it up too. It could be a myriad of things, and it may not even pertain to the property.
 
I used 92603 to search.



I thought this one was strange because it didn't say you are in default of a deed, but:



Order No: 3667750 TS No: E08-01218 NOTICE OF TRUSTEE'S SALE UNDER A NOTICE OF DELINQUENT ASSESSMENT AND CLAIM OF LIEN YOU ARE IN DEFAULT UNDER A NOTICE OF DELINQUENT ASSESSMENT AND CLAIM OF LIEN, DATED 6/21/2007, UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE.



I only found a count document for only one of the owners listed and it was a COMPLAINT FILED BY U.S. BANK, N.A., AS TRUSTEE FOR CITIGROUP MORTGAGE LOAN TRUST.
 
[quote author="graphrix" date=1253498919]Without knowing which property it is exactly (I searched that site for notices in the last 7 days using "Irvine" as a keyword and I got 163 results... WHOA!), I can assume it is a lien for delinquent HOA dues. No, you can't go and buy the property at the auction for less than $13k, but you can buy the HOA lien for that. The HOA will appreciate it, and so will the owner, but as soon as the first lien forecloses then you are wiped out. First is first, and every other lien but the property taxes gets nada when the first forecloses. You would need to check if any of the other liens are in default. I would bet that they are.



The judgment will have to be answered by one of our legal minds, and they would probably still need to look it up too. It could be a myriad of things, and it may not even pertain to the property.</blockquote>


No legal mind here, but some addition.

I am fairly sure that if the IRS deems it prudent to lien real or personal property, the IRS comes first, even before county property tax and senior mortgage holders.
 
This thing reeks of fraud. They haven't paid their property taxes for the last three years, in other words... they have never ever paid their property taxes, and that is why they owe $38k in back taxes. The current owner name is soooo fake, that I can't believe that anyone would believe it. They have a 1st lien, a 2nd lien, and a 3rd lien... The judgment probably means US Bank knows it is fraud and wants their money, so they will actually go through the judicial foreclosure process. Or... this clown already screwed them, and he owes them money from another property.



Honestly, this will go down as a foreclosure. STAY AWAY! STAY FAR AWAY FROM THIS PLACE!
 
[quote author="graphrix" date=1253541405]This thing reeks of fraud. They haven't paid their property taxes for the last three years, in other words... they have never ever paid their property taxes, and that is why they owe $38k in back taxes. The current owner name is soooo fake, that I can't believe that anyone would believe it. They have a 1st lien, a 2nd lien, and a 3rd lien... The judgment probably means US Bank knows it is fraud and wants their money, so they will actually go through the judicial foreclosure process. Or... this clown already screwed them, and he owes them money from another property.



Honestly, this will go down as a foreclosure. STAY AWAY! STAY FAR AWAY FROM THIS PLACE!</blockquote>


In that case, <em>and without having actually seeing the lien notice</em>, my <em>guess</em> is that the foreclosing lien is a tax lien, or the 3rd mortgage, or the HOA.



<a href="http://egov.ocgov.com/ocgov/Info OC/Departments & Agencies/Treasurer-Tax Collector - Chriss Street/Property Auctions">Here is the link</a> to info for OC County property tax auctions. If you are interested, read the whole thing.
 
[quote author="graphrix" date=1253541405]This thing reeks of fraud. </blockquote>


I think the biggest fraud was the fact that condos in that vicinity were selling for more than $600,000 in 2004. Who would have thought people would be willing to pay so much money for a condo that is separated from a dump by a busy six lane road and a toll road.
 
[quote author="ABC123" date=1253609275][quote author="graphrix" date=1253541405]This thing reeks of fraud. </blockquote>


I think the biggest fraud was the fact that condos in that vicinity were selling for more than $600,000 in 2004. Who would have thought people would be willing to pay so much money for a condo that is separated from a dump by a busy six lane road and a toll road.</blockquote>


That's not fraud; that's stupidity on the part of the buyers. Now, if they used fake loans to pay for the $600k, then we are back to fraud. But I'll bet at least a few people actually put 20% down for such a place.
 
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