Tuesday, September 4, 2012

Court Case Lange vs. JPMorgan Chase


Lange v. JP Morgan Chase, Washington Mutual, Alta Community Investment, Todd Kaufman, Seaside Capital Fund, and Luke McCarthy
California Court of Appeal, 2nd District   Case #B233670

Roger Senders, trial attorney
Douglas Gillies, appellate attorney for Susan Lange Susan Lange was paying Chase $6384 per month to stay in her home under a trial loan modification agreement when she came home to find a Notice to Quit posted to her front door. Without notice to Susan, Chase had conducted a Trustee's Sale. The property was purchased by Alta Community Investment, Todd Kaufman, Seaside Capital Fund, and Luke McCarthy. However, Todd Kaufman was not your typical bona fide purchaser of distressed properties. WaMu's securitization division was designed and managed by Kaufman. He wrote the securitization book, until he left WaMu when the mortgage meltdown imploded and he founded Alta Community Investment III, LLC so he could get a head start in the booming business of buying and selling distressed houses.
Two days later, Lange received a knock on the door from Nancy Mura, who was sent to Lange's home to persuade the residents to move immediately. Mura threatened Lange that if she didn't get out right away, Luke McCarthy would pay her a visit and he would be "very unpleasant" if he had to come. Mura said, "He never loses these things."

No comments:

Post a Comment