Foreclosures & Short Sales – in La Costa Valley!? (Poll)

This survey is about foreclosures, short sales, and other distress sales in La Costa Valley. Could it or has it reached La Costa Valley?

Immediately after you vote, you’ll get to see how your vote compares with your neighbors.

Make sure you pay your Mello-Roos

Those of you who may not like the Mello-Roos assessment may decide to do your civil protest thing and not pay it. Watch out! The CFD can force you into foreclosure a lot faster than typical property taxes. The CFD trustees don’t even have much choice about it.

Fortunately, La Costa Valley homeowners have been better than some other neighboring communities at paying their $800 per year.

Here are part of the minutes from a June 26, 2006 SDUHSD meeting.

Link to SDHUSD Special Meeting Minutes

<i>Delinquency Rates

While the number of permits issued and the incremental special tax revenue have slowed, delinquencies have continued to rise to levels not seen since the early 2000’s.

Historical Delinquency Rates

The aggregate 2006/07 delinquency rate is 1.7%. While no CFD is currently required to foreclose on homeowners due to delinquency, of concern are two CFDs which are experiencing higher than anticipated delinquency rates. Encinitas Ranch (CFD 94-3) and the communities of CFD 95-2 (Encinitas area) have delinquency rates of 2.3% and 3.5% respectively. Should the delinquency rate exceed 5% in these CFDs, the CFD will be required to take foreclosure action regardless of the amount or time of delinquency.

Staff has contacted MuniFinancial, and reminder/demand letters have been sent to the delinquent homeowners to address this concern.

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