Ostayan

In this action against defendants and respondents Home Savings of America F.S.B. (Home) and Serrano Reconveyance Company (Serrano), the plaintiff and appellant, Sam Ostayan, seeks reversal of a summary judgment entered against him on his seven-count first amended complaint. Claiming that he had been misled into purchasing a parcel of income property at a trust deed foreclosure sale conducted by Serrano on behalf of Home, Ostayan sought to undo the transaction or, in the alternative, recover damages. He argued that the manner in which Serrano had noticed and conducted the sale constituted a misrepresentation and nondisclosure upon which he had relied in making his successful foreclosure bid; in addition, he argued that Home’s trust deed upon which the foreclosure was held had merged with another senior lien also owned by Home. Thus, Ostayan claimed that he had acquired all of the legal and equitable interests under both trust deeds. The trial court rejected these arguments and concluded that, under the undisputed facts, there was no legal basis for Ostayan’s claims and the trustee’s sale was valid; the court also held that neither Home nor Serrano was liable for…