Property Address: 1819 N Pulaski Street, Baltimore, MD 21217
Property Owner: Owner listed in SDAT is not actually the owner. See below.
City Council District and Contact: District 7, Nick Mosby
State Senator: Catherine Pugh
This home was sold to Capital Asset Research Funding 1998-A, LLP by a group of tax sale certificate purchasers, represented by First Union Bank in 1999. First Union, acting as custodian for 42 tax sale purchasers assigned over 1550 properties, for a grand total payment of $7,123,047.15. Sadly, many of these homes are located in blighted neighborhoods, and I suspect they’ve met with the same fate as 1819 N Pulaski Street.
This home and its transfer shows the need for auditing our city government agencies, particularly finance and housing, and also a more transparent method of dealing with outstanding tax liens. Capital Asset Research Funding 1998-A, LLP is associated with Capital Asset Holdings, Ltd., which is a subsidiary of MuniServices, LLC, which is also a subsidiary of the largest bond insurer in the world: MBIA, Inc.
If you think the buying and selling of tax liens isn’t big business, think again. Here is a list of subsidiaries of MBIA, many of which specialize in the buying and selling of tax liens — never once considering what happens to the properties after the liens have changed hands many times over. People are making billions of tax sale certificates, and tax sale property auctions — to the detriment of our communities. It’s time these companies start acting as responsible corporate citizens and stop pillaging our properties and our assets.