Here’s an interesting one… Vallecitos ridge is a not so spectacular, new development in San Marcos. I saw a for sale sign outside 708 Kirkwall Drive with an asking price of 495K to 525K. Looking at the San Diego Assesor’s Record, the house was originally purchased in July 2005 for 566K. I don’t know anything about the history on this house but it looks like someone is taking quite a loss.
It looks like the owner bit off more than she could chew. A default notice went out in March, which has since been rescinded. Additionally, she did not pay a supplemental tax bill due April 10.
I’ll leave it to OCRenter to fill in the loan details.
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