WAAAAAHHHHHHH

by Bob Walsh

Regular readers will remember I wrote a few weeks ago about the homeowners association at Presidio Terrace in the People's Republic of San Francisco. It is a VERY WEALTHY (and therefore very politically powerful) enclave where the cheap houses are into the several millions of dollars.

A LONG while back their accountant retired. The tax bills for the private road were still sent to the old accountant, and they didn't get paid for close to 30 years. The actual amount of money was a pittance, but you still have to pay. The HOA never noticed, and never sent an updated address to the City/County..

Along come a couple of Silicon Valley working stiffs (not poor working stiffs) Michael Cheng and Tina Lam. They buy up tax liens as an investment. When the outstanding tax hit $994 they went to a lien sale, all nice and public and legal, and bought the property at the tax sale for a relatively modest chunk of change. It was quoted at the time as about $90,100.

The 35 very wealthy homeowners are now going 5150, claiming the new owners are trying to shake them down for a buyback and have hired a very expensive lawyer. They are try to prevent the couple from reselling the title. They are also suing to invalidate the sale, something that has never been done before, at least in the People's Republic of San Francisco.

The political hack supervisor, Mark Farrell, who represents Presidio Terrace has agreed to hold a hearing on the lien sale. The treasurer is adamant in that his people did everything correct and there is no procedural reason to invalidate the sale.

Too bad I hate going over there. That is one board meeting I would like to attend, if nothing else to hear those rich fucks squeal like mashed cats.