Amaca Investments, Inc. v. U.S. Bank National Assn
This is a breach of contract case, albeit one that arises from non-judicial foreclosure proceedings. Plaintiff and appellant Amaca Investments (Amaca) fell behind on its mortgage payments, and defendant and respondent U.S. Bank, as trustee for a securitized mortgage instrument, began the process of foreclosing on Amaca’s property. A détente ensued when U.S. Bank and Amaca entered into a forbearance agreement that obligated U.S. Bank to refrain from taking further steps to foreclose on Amaca’s property so long as Amaca made payments in agreed-upon amounts by the 15th day of future months. Amaca subsequently made several payments after the agreed-upon due dates, and U.S. Bank foreclosed on the property. Amaca sued, claiming its payments had been timely and U.S. Bank had therefore breached the forbearance agreement. The trial court entered summary judgment for U.S. Bank.
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