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Mortgage Loan from Washington Mutual
Washington Mutual Bank submits a note/mortage covering 1040, 1045 and 1053 Boynton Avenues in the amount of $1,396,104.67. -
Second Mortgage is Secured
Ridgewood Savings Bank BorrowingMortgage secured in the amount of $2,985,000 from Ridgewood Savings Bank. -
Substitute Mortgage is Signed by Frank Palazzolo
A substitute mortgage for $1,845,265,38 from Washington Mutual is signed by Frank Palazzolo regarding the three properties. -
Stock Purchase Agreement
A stock purchase agreement was signed between outgoing WDJ members Sean O’Keefe and James Perrotta and incoming members from NY Affordbale Housing Associates and Chayim Kirschenbaum. The stock purchase agreement included an unrecorded second mortgage by Frank and Mary Palazzolo for $1,560,000. This amount was satisfied by the unrecorded second mortgage and loan advance for $1,350,000.00. -
WDJ Ordered to Pay $8.5 to Victim of Lead Poisoning
Levy, Phillips & Konigsberg, LLPLeticia Palma, mother of 15-year-old Andrew Matias, obtains an $8.5 million verdict in lead paint poisoning personal injury lawsuit against WDJ. Matias was first poisoned at the age of 7. -
Palazzolo Enters a Judgment Against WDJ
Frank and Mary Palazzolo enter a judgment against WDJ for $457,825.00. Matias’ lawyer claims this judgment is fraudulent and that the promissory notes for the $1.35 million loan had not expired, therefore there is no proof of default. -
WDJ Defaults on Mortgage
WDJ defaults on mortgage in the amount of $2,985,000.00. -
Ridgewood Savings Bank
The mortgage is accelerated by Ridgewood Savings Banks. -
Foreclosure Proceedings Begin
Foreclosure action commenced. -
WDJ Gets Served
WDJ gets served with summons/complaint. -
WDJ Ordered to Pay $2.4 Million to Lead Poisoning Victims
Laticia Palma and Andrew Matias are awarded judgment of $2,438,202.91 against WDJ for personal injuries from lead poisoning. Matias was severely brain damaged. They are now lien holders on 1045 Boynton Avenue. -
Notice of Pendency
Ridgewood Savings Bank files a notice of pendency against the property. -
Motion to Intervene
Matias asks for motion to intervene in Ridgewood foreclosure. -
Summary Judgment
Ridgewood asks for a summary judgment in the foreclosure action. -
Mortgage is Shifted Around
THROUGH DECEMBER 17, 2010: The mortgage concerning the three properties switched hands between a number of real estate limited liability companies. The lawyer for Matias complains this was to shield their true purpose and to gain a position superior to Matias in terms of money. He also claimed that Ridgewood’s mortgage was satisfied when it was assigned/switched hands. -
Legal Age
Andrew Matias turns 18.
