Fallbrook Golf Club owner Lamberson served with notice of default

Fallbrook Golf Club owner Jack Lamberson has been served with a notice of default from Chicago Title Company, the trustee for Ronald Richards’ D-Day Capital, LLC.

A notice of default, the first step in the foreclosure process, is a notification given to a borrower stating that he or she has not made their payments by the predetermined deadline. It dictates that if the money owed (and sometimes additional legal fees) is not paid in a given time, the lender may choose to take possession of the borrower’s property.

Richards, an attorney who operates out of Beverly Hills, purchased the notes on the 116-acre Gird Valley property from First National Bank of Denver on June 28. The notice of default was filed with the San Diego County Recorder on Sept. 1 and states that as of Aug. 30, Lamberson owed $53,208.24 in past due payments.

The notice of default states: “If your property is in foreclosure because you are behind in your payments, it may be sold without any court action, and you may have the legal right to bring your account in good standing by paying all of your past due payments plus permitted costs and expenses within the time permitted by law for reinstatement of your account, which is normally five business days prior to the date set for the sale of your property. No sale date may be set until approximately 90 days from the date of this notice of default.”

Lamberson purchased the property in a short sale in June of 2012 and said he soon found the 18-hole golf course to be a losing proposition. He has been trying to sell Fallbrook Golf Club for more than two years and reportedly has been involved in serious negotiations with real estate brokers the past few weeks.

Lamberson closed the golf course – for the third time this year – on July 26 and hasn’t appeared to have provided the property with any water or maintenance since the closure. That non-action prompted Richards to take further action beyond the notice of default.

“D-Day Capital also filed a judicial foreclosure and waste action against Jack Lamberson personally and his corporation,” said Richards in an email to the Village News. “We recorded a lis pendens against the property as well. [A lis pendens gives notice to all there is a pending action filed in court affecting the property]. We are seeking $1,000,000 in damages against Jack and his corporation personally. D-Day Capital rarely settles cases and pushes them to trial or stipulated judgment.

“Mr. Lamberson’s closure has triggered a negative covenant default and he is causing waste to our secured collateral. We expect to foreclose on the asset but are still hopeful that Mr. Lamberson will resolve the matter with D-Day Capital, LLC. However, until then, he is our number one target.”

The Village News attempted to contact Lamberson for this story, however, he declined to return phone calls.

13 Responses to "Fallbrook Golf Club owner Lamberson served with notice of default"

  1. SaveFallbrookGolfCourse.com   September 9, 2016 at 12:35 pm

    For more info on the course, visit SaveFallbrookGolfCourse.com

    Reply
  2. Homer Gomer   September 9, 2016 at 1:37 pm

    I hope they go after him for everything he has and more, could not happen to a nicer and deserving guy…

    Reply
  3. Tim Eliqueer   September 10, 2016 at 2:46 pm

    Jack Lamberson was never capable of being a golf course operator. He should just give the course back to D-Day Capital and move on. They at least can move the ball forward. Jack has been a disaster since day one.

    Reply
  4. FallbrookDweller   September 11, 2016 at 1:34 pm

    D-Day Capital’s goal is to take control of the property and develop it into residential housing. It’s what they do. Why would anyone buy the note on a defunct, failing, neglected golf course unless they had a master plan. The principals involved have done the same thing on other defunct courses throughout San Diego county. Buy defunct golf course at a discount, lobby to change zoning laws, neglect property and battle neighbors for months or years until they get their way.

    Reply
  5. mrpriceisright   September 11, 2016 at 2:11 pm

    Unfortunate news for Fallbrook golfers and community. It looked promising a month or so back, now it appears if the note holders foreclose, the course is headed for oblivion and real estate development is its future.

    Reply
  6. Concerned   September 12, 2016 at 12:05 am

    Bye bye Fallbrook Golf Course… Hello new housing developments.

    Reply
  7. Concerned   September 12, 2016 at 12:13 am

    Now that there is a pending legal action attached to the property, for sure no one is going to buy it. D-Day Capital is now destined to foreclose and take control of the property within the coming months.

    Reply
  8. Preston   September 12, 2016 at 6:29 am

    I know very little about the course and nothing about Lamberson however I imagine the main reason the course failed was because it could not generate enough income to be viable and I would bet that those complaining are the ones that wanted to play for $20.00.
    Fallbrook is a beautiful community but we have some serious problems clouding our image so in my opinion, we will continue to attract low income housing developers and not golf course investors unless we can clean up our town and increase the anti to live here because, you can’t have it both ways.

    Reply
    • Dusty   September 13, 2016 at 12:42 pm

      Preston,

      From all I have heard about this, and from talking to Jack directly, his expertise has been in running a successful payroll business and he had no background in golf course management. And, he kept cutting back on maintenance, staff, food quality, operating hours, etc until it was a mere shadow of its former glory. And people stopped coming.

      Plus, Jack poisoned and derailed every potential sale, with an attempt to bring in additional income for himself at the 11th hour (cell towers, liens from the payroll company). So, finding a buyer became impossible.

      RR steps in, buys the note with the intent of being there when Jack inevitably defaults. If a buyer is found, before he can foreclose, he’s able to throw in a $1,000,000 damages lawsuit to even further minimize a buyer comes in to rescue the property.

      It’s brilliant and Jack’s willingness to “go down with the ship” has made it all possible.

      Dusty

      Reply
  9. Paya Up   September 13, 2016 at 11:27 pm

    Well I hope the workers file their own lispendens and wage claims with the labor commission for all the money & labor he stole from app them!!!! And the property owners should sue as the golf course owners made promises they never intended to keep!!! I wouldn’t patronize any business that rips off employees!!! WAGE THEFT SHOULD BE A FELONY!! PAY THE WORKERS JACK!!

    Reply
  10. Raiza Rento   September 13, 2016 at 11:36 pm

    Preston, you sound like a slumlord dude. Apartment rent is averaging $1500 for a piece of crap two bedroom shoebox with tons of deferred maintenance. Landlords should be lowering their rents with this terrible economy. Pretty soon your shoeboxes will be all vacant if you raise the rent any higher. SERIOUSLY PEOPLE WILL START BUYING BECAUSE THE PAYMENTS ARE WAY CHEAPER THAN RENT!!!!

    Reply
  11. Marti Avila   September 14, 2016 at 1:29 pm

    I have an idea… why don’t the residents of Fallbrook purchase it? We could all be equity partners and hire a professional management team to run it.

    Let’s face it, if the guy from LA takes it over, he’ll fill it full of houses which will bring down the property values, ESPECIALLY the homes that are on the golf course now. Not to mention the additional traffic, noise, pollution, congestion on Gird road and the loss of all those beautiful trees and wide open spaces that are quickly disappearing.

    Reply
  12. Preston   September 15, 2016 at 8:37 am

    Raiza, Your seemingly rude comment does not really deserve a response however I will tell you that I have been in business in Orange County for over 45 years and have many long term tenants. My longevity did not happen from being a slumlord but from doing a superb job as an owner and providing clean well maintained units at market rates. The best way to insure the neighborhood does not become a slum is by not renting to druggies and gangbangers, enforcing strict but fair occupancy rules and by evicting those that do not want to live in harmony with their neighbors. So really Raiza, my success is due to tenants that appreciate the living conditions they enjoy and in return act responsibly. Unfortunately for parts of Fallbrook I believe there is much work to be done on both sides of the fence and if you want to live in a respectable neighborhood that typically means higher costs.
    I am also a local Avocado Rancher and again attribute success to the great workers that go above and beyond because they appreciate the work conditions and respect they earn.
    Lastly, Home Ownership for some may not be all it is cracked up to be and typically at any given time rent is usually more affordable. There are many costs involved to ownership other than just the payment but if you are ready to the challenge it can be rewarding.
    Best to your future endeavors.

    Reply

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