White

White v. J.P. Morgan Chase, Inc.

Good Law

167 F. Supp. 3d 1108·2016 WL 861124·2016 U.S. Dist. LEXIS 28136

United States District Court, Eastern District of CaliforniaMarch 4, 2016No. 2:15-CV-01775-MCE-ACCalifornia3,820 words

Opinion

Lead Opinion

England, J.

MEMORANDUM AND ORDER

Through this action, Plaintiffs Patrick White and Nelda White (“Plaintiffs”) allege causes of action for promissory estop-pel, intentional misrepresentation, and negligent misrepresentation against Defendants J.P. Morgan Chase, Inc. (“Chase”) and Select Portfolio Servicing, Inc. (“SPS”) arising from Defendants’ alleged promises for a loan modification. Pending before the Court are Defendants’ Motions to Dismiss the operative First Amended Complaint (“FAC”). ECF Nos. 13, 18. For the reasons that follow, Defendants’ Motions to Dismiss are GRANTED.

BACKGROUND

On April 17, 2006, Plaintiffs secured a $1,350,000.00 loan to purchase the property located at 8915 Los Posas Court, Granite Bay, CA 95746 (the “Property”). This loan was secured by a deed of trust recorded against the Property with RMR Financial, DBA Princeton Capital.

A. The First Loan Modification

In late September 2012, a Chase representative called Mr. White to ask if Plaintiffs would be interested in a loan modification instead of foreclosure. Based on the oral information provided by Mr. White, the Chase representative allegedly indicated that while Plaintiffs appeared to qualify for a loan…

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