No bidders show for forclosure auction
Published: Wednesday, December 19th, 2007
No purchasers showed up to bid on The Historical Pow Wow Inn and a small strip shopping center that were to be auctioned Monday on the courthouse steps. Special master Billie Jo Burlbaw, who was there to conduct the sale, said it was not unusual to see a no show of prospective bidders at foreclosure auctions. The starting bid for the inn was $600,000 and $135,000 for the strip shopping center. It is expected that the properties will be returned to lenders. The two properties were to be sold to pay off debts, interest, attorney fees and other costs, said James Rasmussen, an Albuquerque attorney, representing a financial institution. The combined total for the properties was more than $1.7 million, court records state. The Pow Wow Restaurant is not one of the properties and is not among properties listed in two separate court case documents. In addition to the Pow Wow Inn, the second property to be sold is described as a strip shopping center, including 808 E. Tucumcari Blvd., and 824 E. Tucumcari Blvd., and the building units between those two addresses, court records show. The strip center is at the southwest corner of the Choctaw Street and Tucumcari Boulveard intersection. On Oct. 22, the District Court appointed a special master to conduct the sale to satisfy debts, court documents show. The foreclosure action for the inn was made by Bayview Loan Servicing, LCC, represented by Rasmussen. Court documents list the defendants as Brea Lynch New Mexico, LCC and Crystal Lin, aka Lee-Chun Crystal Djou aka Lee-Chun Lin, aka Crystal Lee-Chun Lun and Loma Linda University. The same defendants are listed in the lawsuit seeking the sale of the shopping center. Representatives for the parties named in the foreclosure action did not attend court preceedings on Oct. 22, court records shows. The court documents list Lin as having addresses in Walnut and City of Industry, Calif. Loma Linda University is a Seventh-day Adventist Institution Integrating Health, Science, and Christian Faith, that is also known for medical outreach programs, located in Loma Linda, Calif., according to the university's Web site. An official of Loma Linda didnot respond to queries about the sale.
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