58-year-old Bijan Madjlessi was one of four people indicted in March on loan fraud charges in a case involving the now-failed Sonoma Valley Bank.
Sellers across California have been holding the door open, hoping to cash in on double digit increases in home prices, and a surplus of buyers motivated by low interest rates. But, the stalemate in Washington is stalling home sales in the Bay Area.
The federal government has sued Wells Fargo Bank in New York, blaming the nation’s largest originator of home mortgages for thousands of loan defaults over the last decade.
When you buy a car, you think it’s yours to keep. But a certain form of financing may lead to a call from the dealer asking for a higher payment or to bring the car back.
Final 49ers stadium deals have been approved by the city of Santa Clara, including $100,000 in extra loan money and a 40-year non-relocation agreement.
Several California lawmakers are trying to put the brakes on a questionable kind of used-car financing known as “Buy Here, Pay Here” that critics say takes advantage of immigrants and people with poor credit histories.
The City Attorney has ruled that the approved loan cannot be put before voters.
San Francisco Mayor Ed Lee says the 49ers move to a new stadium in Santa Clara is all but assured now that the team and the City of Santa Clara have secured $850 million in funding for the project.
The Fremont solar panel manufacturer that received a half-billion dollar loan from the federal government has been unable to attract much interest from potential buyers to take over its operations.
The White House has ordered a review of loan guarantees made by the Energy Department after the Fremont solar power company that got a half-billion-dollar federal loan went bankrupt.