How can I get info on Murrieta foreclosure auction ?

[mydogsarelazy]

A home in our neighborhood — apparently belonging to one of the investors in the CORE scam — just got a notice on the door that it will be going to auctioned on 8/6 in Corona.

How can I find out the results of the auction after it occurs?

The property address is 23732 Lincoln Ave, Murrieta, 92562

Thanks, JS

[temeculaguy]

you can go the auction itself but the odds are the bank will just get it back and the price will be outstanding loan, which in the case of that scandal will be inflated. Wait a few days and check zillow or go to the riverside county recorders office, the county offices in Temecula off winchester may have it. The other option will cost you three dollars, by going to the riverside county website and doing a grantee search by name you can buy the doccument. The problem is that you have to buy it based on the name and recording date and many of those people had multiple properties so you might buy the wrong one, they don’t have an address search but you should be able to get the name by checking the tax roll and you can do that with their GIS map module. I don’t know if Murrieta has one online, Temecula does as does the county but if it is in the city of Murrieta go to their website. If it was a normal property I could do it easily but this fraud case clouds a lot of it.

[temeculaguy]

you can go the auction itself but the odds are the bank will just get it back and the price will be outstanding loan, which in the case of that scandal will be inflated. Wait a few days and check zillow or go to the riverside county recorders office, the county offices in Temecula off winchester may have it. The other option will cost you three dollars, by going to the riverside county website and doing a grantee search by name you can buy the doccument. The problem is that you have to buy it based on the name and recording date and many of those people had multiple properties so you might buy the wrong one, they don’t have an address search but you should be able to get the name by checking the tax roll and you can do that with their GIS map module. I don’t know if Murrieta has one online, Temecula does as does the county but if it is in the city of Murrieta go to their website. If it was a normal property I could do it easily but this fraud case clouds a lot of it.

[waiting hawk]

After the bank takes it back just move into it. Nobody will know till 2011 or so 🙂

[waiting hawk]

After the bank takes it back just move into it. Nobody will know till 2011 or so 🙂

[temeculaguy]

The APN is 947783015 which is the tax assessor parcel number, both the county and the city have online GIS which is how I got it. The tax assesors site was down for maintenance due to the late hour but that is a good start, this is all public record and a lot of it is online. I did find that it didn’t list the tax bill or the owners name which I have never seen before but because this property is part of a criminal investigation and of media interest you may not find it online.

[temeculaguy]

The APN is 947783015 which is the tax assessor parcel number, both the county and the city have online GIS which is how I got it. The tax assesors site was down for maintenance due to the late hour but that is a good start, this is all public record and a lot of it is online. I did find that it didn’t list the tax bill or the owners name which I have never seen before but because this property is part of a criminal investigation and of media interest you may not find it online.

[mydogsarelazy]

From the front door posting:

Owner, Steve Lanuzo (googles as a CORE client)

1st TD of $399,160.25

[mydogsarelazy]

From the front door posting:

Owner, Steve Lanuzo (googles as a CORE client)

1st TD of $399,160.25

[Allan from Fallbrook]

Forgive an apparently ignorant question, but what is the CORE scam?

[Allan from Fallbrook]

Forgive an apparently ignorant question, but what is the CORE scam?

[mydogsarelazy]

Here you go:

Murrieta Company, Broker to Forfeit Real Estate Licenses

Click stars to vote (left is low, right is high) (4 votes, average: 4.75 out of 5)
Loading …
[?]
RISMEDIA, July 3, 2007—(MCT)—A Murrieta-based real estate investment company and a broker that sparked a rash of lawsuits and a criminal investigation have agreed to forfeit their real estate licenses, according to a document filed with the California Department of Real Estate.

Stonewood Consulting and Hendrix Moreno Montecastro waived their right to contest a long litany of violations that the department alleged in a May 23 complaint. They did not admit the validity of the allegations, which nonetheless are stated as the reason for the disciplinary action. Department of Real Estate spokesman Tom Pool said the license revocations will become effective July 9.

William H. Sauls, the lawyer representing Stonewood Consulting and Montecastro, was unavailable for comment Thursday. He has repeatedly refused to be interviewed regarding the case.

Montecastro and Stonewood Consulting are accused of engaging in a scheme in which inflated appraisals were used to obtain mortgages larger than the price that the sellers actually received for their properties.

Stonewood Consulting took as commissions the difference between the contract sales price that was reported to the lenders and the price paid to the sellers, according to the complaint. The department said an audit of 10 properties conducted as part of its investigation showed that Stonewood Consulting collected commissions ranging from $75,000 to $115,000 per house, for a total of $969,158.

In civil and federal lawsuits, Stonewood Consulting investors claim they were induced to buy multiple houses with inflated mortgages with the aim of raising funds they thought would be invested for them with a guarantee of big returns.

Richard Ackerman, a lawyer for many of the plaintiffs, says that investors in California and several other states were defrauded in a scam that involved the purchase and refinancing of hundreds of houses, the majority concentrated in southwest Riverside County, particularly Murrieta and Temecula.

Ackerman said investors were assured the mortgages on their houses would be paid by those they entrusted to invest the excess mortgage funds and through other money they raised by drawing on credit cards and retirement accounts. Instead, late last year, the mortgage payments stopped and many of the houses have gone into default and foreclosure, he said.

Other alleged violations cited by the Department of Real Estate included failure to maintain mortgage trust accounts, illegal disbursement of money from property management accounts, illegal disbursement of money from property management accounts, incomplete and inaccurate loan-disclosure statements, failure to disclose loan origination fees and telling sellers that buyers had deposited earnest money that didn’t exist.

Ackerman said he considers Stonewood Consulting and Montecastro’s decision not to contest the allegations “an implied admission on their part that they did wrong. Why would you surrender your professional license in the face of serious charges unless you thought there was some merit to the charges?”

Anna Richter, 39, a Rialto resident and Stonewood Consulting investor who has been organizing rallies to urge authorities to take enforcement action, said, “I am happy their license will be revoked. However, I am extremely disappointed in the bureaucratic slowness of justice. Someone should be arrested by now.”

The Riverside County district attorney’s office has said it is investigating Stonewood Consulting for possible crimes involving mortgage fraud.

[mydogsarelazy]

Here you go:

Murrieta Company, Broker to Forfeit Real Estate Licenses

Click stars to vote (left is low, right is high) (4 votes, average: 4.75 out of 5)
Loading …
[?]
RISMEDIA, July 3, 2007—(MCT)—A Murrieta-based real estate investment company and a broker that sparked a rash of lawsuits and a criminal investigation have agreed to forfeit their real estate licenses, according to a document filed with the California Department of Real Estate.

Stonewood Consulting and Hendrix Moreno Montecastro waived their right to contest a long litany of violations that the department alleged in a May 23 complaint. They did not admit the validity of the allegations, which nonetheless are stated as the reason for the disciplinary action. Department of Real Estate spokesman Tom Pool said the license revocations will become effective July 9.

William H. Sauls, the lawyer representing Stonewood Consulting and Montecastro, was unavailable for comment Thursday. He has repeatedly refused to be interviewed regarding the case.

Montecastro and Stonewood Consulting are accused of engaging in a scheme in which inflated appraisals were used to obtain mortgages larger than the price that the sellers actually received for their properties.

Stonewood Consulting took as commissions the difference between the contract sales price that was reported to the lenders and the price paid to the sellers, according to the complaint. The department said an audit of 10 properties conducted as part of its investigation showed that Stonewood Consulting collected commissions ranging from $75,000 to $115,000 per house, for a total of $969,158.

In civil and federal lawsuits, Stonewood Consulting investors claim they were induced to buy multiple houses with inflated mortgages with the aim of raising funds they thought would be invested for them with a guarantee of big returns.

Richard Ackerman, a lawyer for many of the plaintiffs, says that investors in California and several other states were defrauded in a scam that involved the purchase and refinancing of hundreds of houses, the majority concentrated in southwest Riverside County, particularly Murrieta and Temecula.

Ackerman said investors were assured the mortgages on their houses would be paid by those they entrusted to invest the excess mortgage funds and through other money they raised by drawing on credit cards and retirement accounts. Instead, late last year, the mortgage payments stopped and many of the houses have gone into default and foreclosure, he said.

Other alleged violations cited by the Department of Real Estate included failure to maintain mortgage trust accounts, illegal disbursement of money from property management accounts, illegal disbursement of money from property management accounts, incomplete and inaccurate loan-disclosure statements, failure to disclose loan origination fees and telling sellers that buyers had deposited earnest money that didn’t exist.

Ackerman said he considers Stonewood Consulting and Montecastro’s decision not to contest the allegations “an implied admission on their part that they did wrong. Why would you surrender your professional license in the face of serious charges unless you thought there was some merit to the charges?”

Anna Richter, 39, a Rialto resident and Stonewood Consulting investor who has been organizing rallies to urge authorities to take enforcement action, said, “I am happy their license will be revoked. However, I am extremely disappointed in the bureaucratic slowness of justice. Someone should be arrested by now.”

The Riverside County district attorney’s office has said it is investigating Stonewood Consulting for possible crimes involving mortgage fraud.

[patientrenter]

Is the Riverside County DA investigating the BUYERS for possible crimes involving mortgage fraud? Hmmm.. let me think….

Patient renter in OC

[patientrenter]

Is the Riverside County DA investigating the BUYERS for possible crimes involving mortgage fraud? Hmmm.. let me think….

Patient renter in OC

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