Another foreclosure party mansion in Malibu?
Maybe Cheronda Guyton, the recently fired Wells Fargo executive accused of holding parties in a Malibu estate repossessed by the lender, can look into buying this Malibu mansion scheduled for foreclosure auction and also listed for sale for nearly $16.5 million.
According to the listing from Prudential, the four-bedroom, three-bathroom property is located on 1.6 acres on the Encinal Bluffs with "panoramic ocean and coastline views." According to RealtyTrac the foreclosure auction is scheduled for Oct. 7, although no estimated bid is available. A call to the trustee confirmed the property is on file but no opening bid or confirmation of the sale date was provided. RealtyTrac does show the current owner took out a 30-year fixed rate loan for $13 million in September 2007, on the same date the owner purchased the property.
So for an estimated monthly payment of $79,000, Guyton can get an oceanfront Malibu mansion after all. Although it might be tough for her to qualify for a loan with those pesky new lending standards that actually require borrowers to document their employment and income.