Wells Fargo files Unlawful Detainer to evict DEADBEAT owners who strategically defaulted… But these “deadbeats” are a CITY GOVERNMENT

Wells Fargo Sues Stockton Again

Wells Fargo Serves Unlawful Detainer To City Of Stockton

STOCKTON, Calif. (KCRA) — Wells Fargo is taking the city of Stockton to court once again.Wells Fargo is acting on behalf of its bondholders, because Stockton has skipped bond payments.

The unlawful detainer was served for an eight-story building on 400 E. Main St. in Stockton.

Wells Fargo is suing to recover premises.

The building was purchased in 2007 for $42 million, and the city intended to move City Hall to the location.“When we purchased the building, it was a good investment, but with the fiscal projections for 2013, we would lose $3 million,” said Connie Cochran, spokeswoman for city of Stockton.Only 40 percent of the building is occupied with Chase Bank and the Stockton’s I.T. Department.

“It is not up to capacity, so we are losing money,” said Paul Canepa, of the Stockton City Council.

The city received a pay-or-quit notice May 1.

Rest here…

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Comments
One Response to “Wells Fargo files Unlawful Detainer to evict DEADBEAT owners who strategically defaulted… But these “deadbeats” are a CITY GOVERNMENT”
  1. Bobbi Swann says:

    Aha! Where’s the laughing mouse?! This is a perfect scenario for about 9 out of every 10 people who default – money runs short (layoff, etc) and can’t make payments! These people need to realize that this is happening in REAL life situations with REAL life homes. They all get to leave their jobs and go home….others in the same situation do not fare the same…And they say that the so-called ‘deadbeats’ just spent way out their means…so what did this city do, huh? For them it’s pass ‘go’ and collect $200 and for the real life characters it’s go to the streets! I have another name for WF but I will let your imagination take it from there!

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