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GREEN v. RANCHO SANTA MARGARITA MORTGAGE CO.

Docket No. G013473.

28 Cal.App.4th 686 (1994)

33 Cal. Rptr.2d 706

GEORGE F. GREEN III et al., Plaintiffs and Respondents, v. RANCHO SANTA MARGARITA MORTGAGE COMPANY, Defendant and Appellant.

Court of Appeals of California, Fourth District, Division Three.

August 30, 1994.

Attorney(s) appearing for the Case

COUNSEL

Alevizon, Smith, Susson & Palafox and Robert L. Green for Defendant and Appellant.

Walter Greene, Jr., for Plaintiffs and Respondents.

OPINION

SILLS, P.J.

When George and Elizabeth Green went to a mortgage broker to obtain a loan for the new $440,000 house they wanted to buy in Coto de Caza, they had a monthly income in excess of $16,000, more than $50,000 in savings, and six pieces of real property with a net value of $290,000. Their debts (exclusive of encumbrances on their real property) were less than $35,000, and over 70 percent of that represented...

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