It appears that a significantly greater number of Orange County California homeowners are displaying to the OC county treasurer and tax collector a big fat middle finger.
Sure. They know they should pay their property taxes. But conventional wisdom when trying to catch razor-sharp falling daggers is probably telling them to find ways to make the mortgage payment first (or lose their house).
Skipping out on the property taxes? Meh, they can charge all the interest and penalties they want until the wildfires return. At least the homeowner still has the keys to the castle.
Now. Was it the credit card-charged family vacation to Hawai'i over Christmas? Maybe it's that huge ass Cadillac SUV in the drive way? Maybe it was deciding to send the kid to Berkeley instead of locally to UC-Irvine? And what about little Suzy's birthday next month? I don't think a "poster of a pony" is what she had in mind, dear.
Dammit! We were rolling in the dough only 12 months ago! What the f*&% happened?
According to John Lansner's blog $147 million dollars in 2007 went uncollected on December 10th compared to $99 million one year ago - a jump from 4.72% to 6.44% of total due. Indeed there will be hefty one time late fees and interest charges for all delinquents.
Defaults up 128% in 2007. Foreclosures up 568%!
Sure. They know they should pay their property taxes. But conventional wisdom when trying to catch razor-sharp falling daggers is probably telling them to find ways to make the mortgage payment first (or lose their house).
Skipping out on the property taxes? Meh, they can charge all the interest and penalties they want until the wildfires return. At least the homeowner still has the keys to the castle.
Now. Was it the credit card-charged family vacation to Hawai'i over Christmas? Maybe it's that huge ass Cadillac SUV in the drive way? Maybe it was deciding to send the kid to Berkeley instead of locally to UC-Irvine? And what about little Suzy's birthday next month? I don't think a "poster of a pony" is what she had in mind, dear.
Dammit! We were rolling in the dough only 12 months ago! What the f*&% happened?
According to John Lansner's blog $147 million dollars in 2007 went uncollected on December 10th compared to $99 million one year ago - a jump from 4.72% to 6.44% of total due. Indeed there will be hefty one time late fees and interest charges for all delinquents.
Defaults up 128% in 2007. Foreclosures up 568%!
With fewer property tax dollars flowing into Orange County, one might conclude that California's state ranking of the 47th "smartest state", - a damning indictment on the efficacy of the current public education here - is "safe as houses" too.
1 comment:
Was (and again) an avid reader of your blog. Nice to see you back in action. Hope things worked out and be cool.
B.I.O.C. 2012
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