[quote=northparkbuyer]NOTS was dated 12/31/09, original sale date was 1/25/10, and it was delayed several times. NOTS was indeed in the name of the decedent.
Balance on the note was $439K as of the NOTS, so there was some equity there.
It is a very curious situation and I appreciate the knowledgeable insights.[/quote]
If NOS was dated 12/31/09, then that $439K reflects ONLY the payments, late charges and trustees fees due at that time. Since then, these items have increased by $21K, to $460K, or thereabouts, thus, the opening bid on the steps.
Why do you think there is/was equity in the property before the trustees sale?? Have you examined the title for any creditors claims, judgment liens, government liens or tax liens or taxes due on the property?
Does the property have a large lot, over 2200 sf, a permitted “granny-flat” or have historical significance?
$439K or $460K sounds like a large loan to me for North Park unless the property is large and/or has a Mills Act contract on it.
