Just when I thought I heard it all. The forclosure saga of Conresswoman Laura Richardson proves once again to be the gift that keeps on giving.Today the LA Times is reporting that the bank who foreclosed on Richardson has taken the house back from the new owner, presumably to hand it back over to the congresswoman:
Real estate investor James York bought Richardson's house in an upper middle-class neighborhood on May 7 for $388,000. He recorded the deed May 19. His crew has painted it, laid tile and landscaped the house, he said.
York said the lender, Washington Mutual, had contacted him to buy back the house and that he gave the bank a price. He said the next thing he knew, the lender filed a letter of rescission of the foreclosure sale June 2 with Sacramento County and asked him for the keys.
"They took the property back, and they didn't even send back the money," York said.
Please keep in mind that Richardson had stop making payments and owed more than $9,000 in back property taxes on the Sacramento home. And this was not her only property she was not making payments on:
Although the Sacramento house was the first of Richardson's to go into foreclosure, she has defaulted six times on houses in San Pedro and Long Beach, most recently March 28. Five defaults have come in the last 13 months, when she was lending her campaigns for Assembly and Congress a total of $177,500.
Did I forget to mention the two auto repair bills and the printing bill and…… you get the point.
I can’t wait to see what the House Ethics Committee has to say about this one…
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