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Clerk’s Office aims to stop bogus foreclosure sale prices

The Orange County Clerk of Courts office took a definitive step Tuesday in preventing investors buying up foreclosure properties

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The Orange County Clerk of Courts office took a definitive step Tuesday in preventing investors buying up foreclosure properties from overpaying documentary stamp taxes on their new properties and artificially inflating the sale prices of the real estate.

The inflation of foreclosure auction purchase prices appeared to be a common practice among a small group of investors. But the short-term fix seems simple enough: Clerk of Courts Lydia Gardner’s office started writing the winning bid amounts on property title certificates Tuesday.
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