The Sacramento man who bought Rep. Laura Richardson's foreclosed home has dropped a lawsuit against her and her bank, after the bank sought to rescind the sale.
James York bought the home of the Long Beach Democratic congresswoman at a foreclosure sale for $388,000. Richardson had bought the home for $535,000 and owed the bank more than $578,000.
The Press-Telegram reported the details of the abandoned suit, including this quote from York:
"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."
Past tales in the Richardson chronicles:
Richardson's ride is costliest in House
Rep. Richardson didn't pay her car bills, either
More Laura Richardson news
Richardson foreclosure story grows
Photo credit: Brian Baer, Sacramento Bee, May 10, 2007
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