Bagwell v. JP Morgan Chase Bank
In the purchase of her home, plaintiff Esperanza D. Bagwell obtained a mortgage loan from Washington Mutual Bank (WaMu), secured by a first trust deed on the property. After the demise of WaMu, defendant JP Morgan Bank, N.A. (Chase) assumed the beneficial interest in the loan. Plaintiff defaulted, and Chase initiated a nonjudicial foreclosure, which resulted in a trustee’s sale in which Deutsche Bank National Trust Company (Deutsche) purchased the property for $1,023,625.18 (the amount of the unpaid debt and other charges) and received a trustee’s deed.
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