Orozco

BACKGROUND

A. Factual Background Our summary of the facts is taken from the allegations of the second amended complaint, which allegations we assume are true under the standard of review applicable to our review of a trial court’s ruling on a demurrer. (LeBrun v. CBS Television Studios, Inc. (2021) 68 Cal.App.5th 199, 202 (LeBrun).) In 2005, Orozco wanted to buy a home on Sixth Street in Los Angeles (the property). Although he had enough cash to make a large down payment and sufficient funds to make the monthly payments on a mortgage, he could not qualify for a loan due to credit issues. Unbeknownst to Orozco, Orozco’s real estate/loan broker, John Martinez, and New Century Mortgage Corporation (New Century) made a deal in which a third party who could qualify for the mortgage, Miriam Perez, would be the borrower and purchaser of record of the property, but Orozco would provide the funds for the down payment ($234,000) and make the monthly mortgage payments. Perez, who

2 received compensation for her role in the scheme, signed a promissory note and a deed of trust in favor of New Century on June 2, 2005. In August 2005, Perez conveyed her interest in the property to Martinez,…