2223 Lake Isabel Rd., Templeton
Borrower: J. MacGregor
Amount:$1,250,000
Lender: San Luis Financial
1225 El Camino Real, Atascadero
Borrower: DA Fetyko
Amount:$7,377,950
Lender: Estate Financial
499 Brizolara St, San Luis Obispo
Borrower: Brizzolara 8 LLC (DA Fetyko)
Amount:$2,632,200
Lender: Estate Financial
Rockview Place, San Luis Obispo
Borrower: Rockview Close LLC (DA Fetyko)
Amount:$606,750
Lender: Estate Financial
1140 Islay St., San Luis Obispo
Borrower: Islay 6 LLC (DA Fetyko)
Amount:$2,358,200
Lender: Estate Financial
1730 Willow Rd., Nipomo
Borrower: Oakview Development (Ron Chappell)
Amount:$3,360,000
Lender: Estate Financial
S. River Rd., Paso Robles
Borrower: Weyrich Development Co. (David Weyrich)
Amount:$1,800,000
Lender: Sanders Trust
557 Grande St., Nipomo
Borrower: Kerry Moriarty
Amount:$1,300,000
Lender: First Bank San Luis Obispo
225 Main St., Morro Bay
Borrower: Distinctive Coastal Properties LLC (Norman Arnold)
Amount:$1,650,000
Lender: San Luis Trust Bank
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5 comments:
Are lenders holdings auctions or are most of them just taking possession?
Where can I find the not-so-notable defaults?
In most cases lenders are purchasing the foreclosed properties for the amount owed on the note. There is rarely others bidding at the auction since the LTV is almost always >100% due to the drop in real estate value and the high LTV of the original loan.
You can find default filings at the clerk recorder's website but you must search for the lender or borrower. There is little other information available online. Your best bet is to subscribe to a foreclosure service such as RealtyTrac.
Blue --
Just checked 1140 Islay on Zillow, and they say that it sold in late 2005 for $1,500,000 and it's estimated to be worth $985,000 today.
How the heck can anyone have gotten a loan for $2,358,000 on the property?
Just asking.
Do you have updates on any of these properties?
Thanks --
Nick
On some of the entries in this post you have (DA Fetyko) in parns behind what seems to be the primary borrower. I wonder what is DA's role in the loan. Thanks !
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