Laura Richardson back in her Sacramento home
Jul 28th, 2008 | By admin | Category: Deleveopment & Real Estate, PoliticsRep. Laura Richardson, best known in recent months for her very public defaults on several homes she owns in California, is getting back her Sacramento house. The broker who bought Rep. Laura Richardson’s Sacramento house at a foreclosure auction two months ago has dropped his lawsuit against her and her bank, allowing Richardson to reclaim the home.
In a statement, Richardson’s lender, Washington Mutual, said the litigation had been “resolved,” but that the terms are confidential. The broker, James York, also declined to discuss the matter. “I’m not supposed to say anything,” he said. “I think you guys can figure out what happened. I only make business decisions and nothing else.”
At the time of the foreclosure sale, Richardson owed $578,354.52 on the home, which she had purchased in January 2007 for $535,000. York bought the house on the courthouse steps for $388,000 - sticking Washington Mutual with a loss of $190,000.