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Hero Pilot Captain Sully Sues California Real Estate Broker

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Real Estate Agent with Short Sales, Foreclosures, Rentals, Income Real Estate

Hero Pilot Captain Sully Sues California Real Estate Broker

We all know Captain Sully as the hero pilot who safely landed an aircraft in the Hudson River in New York saving the lives of 155 people. Sully is back in the news now and the story involves real estate.

Unfortunately, this story isn't as positive as the previous one that the hero was involved in.  Captain Sully is suing a California Real Estate Broker. In 2002 Captain Sully and his wife purchased a home for $935,000 in Paradise, California. Captain Sully and his wife accuse bank officials and the real estate broker of overinflating the price of the home.

A nullification of the original loan and reimbursement of "overpayments" are being sought through the lawsuit.

Real estate broker, Cherie Huillade, denies the accusations and has stated that the homes appraisal was accurate.

A trial is scheduled for September.

 

Source:

WSJ

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More about the author of the blog:

I have been in the Real Estate Industry for over 22 years.  Since 1988 I have been the Broker/Owner of RE/MAX North Orange County.  RE/MAX NOC has successfully closed over 8,000 transactions for both residential and commercial real estate.  Earning myself Re/Max's prestigous Re/Max Hall of Fame Award.   I also use the latest technology and communication tools with ZillowActive Rain and Facebook.       

             Being an adventurer at heart I love to give back to the community and support local causes; I am very involved in Fullerton's Community and am a strong supporter of the Children' s Miracle Network, Susan G. Komen race for the cure, Meals on Wheels, Toys for Tots and the Fullerton Rotary Club.  Yet in today's climate I prefer Honda's over BMW's.  For more information about me you can visit me on Facebook or Active Rain.  Don't settle for just any real estate agent or company for your home buying or home selling needs in Orange County.  Give yourself the advantage of working with the best... Ron Holborn!

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 Ron Holborn :: Cell Phone - (714) 469-8198 :: E-mail - RemaxRon88@hotmail.com




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Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warrantees either express or implied. This blog is not intended to offer any legal, tax or other advice.

 

Shannon Milligan, Richmond VA Real Estate Agent/Associate Broker
RVA Home Team - Richmond, VA
RVA Home Team - Winning with Integrity.

It will be interesting to see how this plays out. Thanks for sharing the story!

Feb 19, 2011 09:01 AM
Sophia Lin
Intero Real Estate Services - Sunnyvale, CA
Sunnyvale CA Real Estate Specialist

Very interesting....glad I was not the Realtor and I sure want to see the outcome of this!

Feb 19, 2011 09:13 AM
Keith Vermilyea
Boise Homes Realty brokered by Found It LLC - Boise, ID

Sounds like the good captain may have fallen victim to the housing market and is underwater in his mortgage, I sure hope he is able to work it all out in court. 

Feb 19, 2011 09:35 AM
Anonymous
Kevin A. Spainhour, Esq.

Although I don't know if this particular case fits the mold, but it most certainly looks very similar to what happens when good people meet up with loan modification sales people.  The standard loan modification multiparty joinder case  involves accusations that the banks overinflated the value of the home.  The good news is that since the pilot is famous, the bank will probably extend him some special treatment to avoid bad press.  The bad news is that real estate agent has to defend herself and her reputation.

 

Feb 21, 2011 04:11 AM
#4
Ron Holborn
Short Sales, Foreclosures, Rentals, Income Real Estate - Anaheim, CA
Commercial & SFR, Anaheim CA, Real Estate & Short

Thank you all for the comments and yes it's bad news for the real estate agent in this case especially since they have to defend themselves against an american hero. Hopefully this gets resolved in a fair matter!

Feb 21, 2011 07:52 AM