Angelenos Feeling the Heat From Trump's Epic Fail - NBC Southern California

Angelenos Feeling the Heat From Trump's Epic Fail

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    NEW YORK - JANUARY 29: Donald Trump attends "The Girls Of Hedsor Hall" press conference at Trump Tower on January 29, 2009 in New York City. (Photo by Scott Gries/Getty Images)

    That Trump condo development that crashed and burned in Baja has claimed the fortunes of many Angelenos, according to the Associated Press. Casualties include SoCal couple Stephen and Linda Drake who lost a $250,000 down payment on a 19th-floor oceanfront condo. A single mother in suburban LA lost $200,000. A Los Angeles-area businessman lost a deposit of more than $1 million on four Trump units, including two penthouses. Trump Baja demanded 30% down on the units—taking, and losing, $32.2 million in deposits. Guadalupe Mendoza paid a $200,000 deposit at the first-day sale in San Diego, refinancing her Downey home and getting a loan from a sister. "I did it in less than a minute," said Mendoza, an administrator in the Los Angeles County Office of Education. "I remember my head was hurting and thinking, 'My God, what was that?' I was thinking maybe I should have asked questions." One buyer sued Trump and Irongate in Los Angeles Superior Court last month and more litigation is expected. "They put their trust in this project and feel betrayed," said Bart Ring, a Woodland Hills attorney who says he represents about 75 buyers who haven't sued.
     

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