IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF CALIFORNIA
August 25, 2009
UNITED STATES OF AMERICA, PLAINTIFF,
JOEL BLANFORD, DEFENDANT.
The opinion of the court was delivered by: Court: Hon. William B. Shubb
[PROPOSED] ORDER TO RELEASE PROPERTY FOR SALE
DATE: August 24, 2009 TIME: 9:00 a.m.
Defendant, by and through undersigned counsel, hereby moves the court for an order authorizing the sale of defendant's property located at 728 & 728 1/2 Jamaica Ct, San Diego, CA. 92109.
The aforementioned rental property was purchased in 2004 for $985,000. The value of this residence has decreased significantly in the last two years. An appraisal of the property reflected a current value of $960,000. Mr. Blanford currently owes about $1,035,000 based on current loan plus arrearages.
The amount generated by rent has been consumed by the costs of repair and property maintenance. Previously, Mr. Blanford had invested $150,000 in the property for improvements and down payments. Mr. Blanford has not been able to make a mortgage payment since June 30th, 2009. Mr. Blanford has repeatedly tried to negotiate with the lender to work out a lower payment plan but nothing has come of it. In his current situation, the financial obligations due to this property have become too large a financial strain that Mr. Blanford is unable to meet.
The Government has been advised of the situation. In addition, Mr. Blanford's pre- trial officer, Mr. Paul Mamaril has also been advised of this situation and has no objection.
Mr. Blanford would like to contact a real estate agent and try to sell the property through a short sale.
Dated: August 24, 2009
MICHAEL E. CARDOZA Attorney for Defendant JOEL BLANFORD
IT IS SO ORDERED.
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