STOP THE PROPERTY TAX FORECLOSURE THIEVES
Aeon Financial, LLC, fbo CapitalSource Bank, located in Chicago purchased thousands of delinquent property tax liens from Cuyahoga County and has filed nearly 2,500 property tax foreclosures since 2009.
According to Cuyahoga County's website, Aeon Financial currently owns 243 properties in Cuyahoga County and they are delinquent in paying property taxes for ALL of their properties.
This company that foreclosed on property owners for failure to timely pay their property taxes does not pay their own property taxes.
Aeon Financial fbo CapitalSource Bank owes Cuyahoga County tens of thousands of dollars in delinquent property taxes, yet the county continues to allow this company to foreclose on property owners for not paying property taxes.
According to County records, Aeon Financial owes nearly as much - if not more- than the original property owner owed in delinquent property taxes.
Below is a list of all the property owned by Aeon Financial fbo CapitalSource Bank, along with property taxes owed to Cuyahoga County:
Our county officials are incompetent.
They allow this tax lien company to foreclose upon others for delinquent property taxes, yet this scum company does NOT pay their property taxes after they receive ownership via tax foreclosures.
Aeon Financial also does not maintain their property and taxpayers are forced to foot the bill for grass cutting, board-up fees, and demolitions.
We are forced to look to nearly 300 vacant and vandalized properties which are in the ownership of Aeon Financial after property owners were forced out of their homes for petty delinquent property taxes. Many of the former property owners owned their houses for decades.
Aeon Financial also refuses to pay for demolitions on property in which Aeon Financial has literally left to rot and destroy our neighborhoods.
Pure genius elected officials that continue to allow this to happen.
There is also very odd tax issues with several of their properties as detailed below. The County Auditor's office shows property taxes due for the 2009 pay in 2010 tax years; however, the records for the 2010 pay in 2011 taxes year reflect a zero balance due, although no payment of taxes is shown in the county records. It appears the taxes were wiped off the books. The county's solution is to collect delinquent property taxes in a lump sum for one year, and then simply wipe out and reduce to $0 the remainder of the owed property taxes. This ain't high math here. There is a huge loss of property taxes when the tax investor forecloses on property.
WOODS, JOEL WAYNE SR recently purchased the property, parcel # 113-29-011, address 17905 DELAVAN RD.
$15,044 sale price
$74,600 value assessed value $ 26,120.00
$0.00 taxes owed for 2010-11
$3,534.84 previous taxes for 2009 pay in 2010 appear to be wiped out.
644-12-027
25251 Shoreview AVE, Euclid, OH 44132
$0.00 taxes owed 2010 pay 2011
2,567.49 owed 2009 pay 2010
no payment shown on Auditor's website
18-FEB-11 transfer date
119-29-067
2175 E 85 ST, Cleveland, OH 44106
$0.00 taxes owed 2010 pay 2011
$1,616.54 owed 2009 pay 2010
no payment shown on Auditor's website
18-FEB-11 transfer date
121-20-079
02185 E 106 ST
$0.00 taxes owed 2010 pay in 2011
$600.98 owed in 2009 pay in 2010
no payment shown on Auditor's website
18-FEB-11 transfer date
131-35-112
3672 E 54 ST, Cleveland, OH 44105
$0.00 taxes owed 2010 pay in 2011
$2,256.62 owed in 2009 pay in 2010
no payment shown on Auditor's website
18-FEB-11 transfer date
If the goal of Cuyahoga County is to collect property taxes and the county believes that selling delinquent tax liens is the solution, what happens when the tax lien company that now owns 243 properties obtained via tax foreclosures fails to pay their own property taxes? NOTHING
Cuyahoga County has recently convicted a couple of housing con artists here on a felony level for engaging in nearly the exact same circumstances as Aeon Financial and the con artists were sent to prison, fined, and forfeited all of their property; however no felony cases have been filed against Aeon Finanicial's group of con artists. The other con artists were also hit hard with housing code violations, fines, and the threat of jail time from Cleveland Housing Court; however Aeon has very few cases filed in Cleveland Housing Court although most of their properties have been left to rot with no simple maintenance. It appears Aeon Financial is receiving special treatment from county and city officials.
The photos below are just a sample of Aeon Financial's destruction. Doors and windows are wide open on many properties owned by Aeon Financial:
[1]
Aeon Financial recently sold approximately 100 properties to a shell LLC - BINARKO PROPERTIES LLC. I believe the shell LLC is meant to hide Aeon Financial's property and is also an attempt to avoid any demolition cost for some of the dumps they have allowed to be vandalized and left to rot. Cleveland Housing Court attempted to serve Binarko Properties LLC summons' for seven cases recently filed in court for failure to furnish certificates of disclosure. Every single violation notice was returned to the court for lack of service. The reason, " Moved- left no address". So now the court is left with no way of serving the summons' to the shell LLC.
2013 CRB 033109 STATE OF OHIO / CITY OF CLEVELAND -VS- BINARKO PROPERTIES LLC
| 10/31/2013 | MOVED LEFT NO ADDRESS USPS MOVED, LEFT NO ADDRESS - Service Date: 10/31/2013 Tracking Number: 91 7190 1037 7520 0014 7844 |
Although Aeon alleges that they sold the nearly 100 properties to Binarko Properties LLC, it is odd that Aeon Financial's attorney prepared the deeds for property in which Binarko turned around and sold for pennies on the dollar.
It is also highly suspicious for Binarko Properties LLC to pay way more for the property than the asking price by a local Realtor just prior to the alleged sale, and Binarko purchased in bulk. Common sense would tell you that purchasing in bulk would lower the cost of the property- not multiply the cost. The nearly 100 properties allegedly purchased by Binarko Properties all had mortgages payable to Aeon Financial. Binarko paid more than the requested selling price and turned around and sold several properties for far less than they allegedly paid just weeks prior- with no mortgage releases filed AND no delinquent property taxes paid.
Cuyahoga County sold tax liens to Woods Cove in 2011 and again in 2013. One of the investors for Woods Cove, David Schwartz, is the COUSIN of Mark Alan Schwartz- the main player behind Aeon Financial. Cuyahoga County property owners are in for one hell of a ride as vulture capitalism is a Schwartz family affair.
It is most unfortunate that city and county officials look the other way and fail to address the serious issue of their constitutients being ripped off by tax lien investors who fail to pay their own property taxes and fail to provide simple maintenance on their properties. The county/city officials - who are elected by the people to represent the people - have failed miserably. County officials are more interested in receiving the millions of dollars from the tax lien purchases, but they fail to address the millions of tax dollars lost in the process.
Our state recently received millions of dollars meant to benefit foreclosure victims; however county officials have decided to raid this fund and spend millions to demolish properties- including demolishing the property owned by tax lien investors. The state foreclosure funds could and should be used more wisely and for their intended purpose- to help the victims. A portion of this fund should be given to victims of the property tax lien scam.
County officials need to step up to the plate and quit allowing tax lien investors to destroy lives and neighborhoods. Officials blame everyone but themselves for the crisis that they have created.
Tax Lien reform is desperately needed in this county and across the country. Thousands of victims were sold out by their own county officials to predatory tax collectors.
Tax Lien investors should NEVER be tax delinquent on any property taken by others for tax delinquency. A simple clause in the county's contract specifying that NO active foreclosures will proceed in court, NO new foreclosures can be filed, NO property obtained via tax delinquent foreclosures will transfer, and NO property owned by the lien investor can be sold if the investor owes any delinquent property taxes will solve one of the many problems.
Aeon Financial Tax Lien Services is NOT the only tax lien purchaser who failed to timely pay property taxes on property they obtained via delinquent property tax lien foreclosures in Cuyahoga County. Plymouth Park Tax Services purchased tax liens in Cuyahoga County in 2008, and they also failed to pay their OWN delinquent property taxes on property which was foreclosed upon for delinquent property taxes. The tax lien thieves have developed a pattern and practice of failing to pay their own delinquent property taxes, and not a single word mumbled by county or city officials.
READ here for more info on PLYMOUTH PARK TAX SERVICES http://realneo.us/content/plymouth-park-tax-services-aka-xspand-cuyahoga-county-victims-corruption-deserve-justice [2]
Thousands of lives have been disrupted, family homes stolen , neighborhoods destroyed, along with increased homelessness over petty delinquent property taxes. People who have made the mistake by living and investing in Cuyahoga County - FOR DECADES - should not be kicked to the curb over petty delinquent property taxes. Meanwhile, the politically connected, investors hiding property behind shell LLC's , friends and family of the politically connected, and the tax lien investors themselves get a free ride on their delinquent property taxes. The tax lien sale process is flawed with no certain method as to picking and choosing who gets sold out to the predators. Tax liens sold for petty amounts for some victims, yet others can owe mulitiple times the amount of other victims and face no consequence. Some property owners have failed to pay property taxes for years and now owe nearly as much as the value of the property - with no tax lien ever sold and no tax foreclosure ever filed by the county.
Our local media has ignored this serious issue and refuses to report on the flawed tax lien process. I have contacted our local media and they do not return phone calls or respond to emails. I suppose they want to hide the facts. I imagine that the victims - who have lost their HOMES- will be highly pissed off to learn that the tax lien investors do not pay their own delinquent property taxes on property they obtained via delinquent property tax lien foreclosures.
The people in our county are in serious trouble with incompetent and corrupt public officials. Please read more of my blogs here http://realneo.us/blogs/lmiller [3] and send in the National Guard to help us. SOS
*** UPDATE*** See The Washington Post expose here http://www.washingtonpost.com/sf/investigative/2013/12/08/debt-collecting-machine/?hpid=z2 [4]
Lily (216) 386-6546
* My blogs expressing my Freedom of Speech Rights, especially on matters of public concern, are my opinion and not the opinion of my friends, family or employer*