The Chase dealer could not be reached for comment. Her ancient foreman declined to reference Thursday night. Grand opportunity Bellevue Towers held its luxurious opening Thursday, celebrating conclusion of its first 22 floors.
The kip is scheduled to be completed by June. Just east of Bellevue Square, it's an architectural dream, with combine towers rising an due 42 and 43 stories, making it the tallest residential structure in the Northwest when it is complete. Of the 539 condos, 180 have been sold, the marketing part says. The compute does not subsume those who backed out or forfeited their serious money. According to King County records, about 12 sales have closed.
The units trade in from $500,000 to more than $9 million each. In 2007, Kasimov borrowed $75,700 from a twist to put 5 percent resolved net down on a Bellevue Towers condo. Financing 95 percent, the redone domicile would have back him more than $7,000 a month, including monthly dues. Bellevue Towers' preferred lender is JP Morgan Chase, which had an part in the same range as the condo model. "I normally wouldn't contemplate I could rich enough this," Kasimov said.
"But there was all this disquietude … Hollywood all over the place." He says he was told there were only a few units left, and the real-estate agent, clever what Kasimov did for a living, said, "Let's get the drift if they'll second you." Kasimov said that when he asked if he could have the means the condo, the delegate told him: "Let the bank be anxious about it.
" Kasimov said a Bellevue Towers intermediary led him to a Chase major mortgage banker/broker. While he had the selection of present with other lenders, Chase being the preferred lender meant he would get a better deal, he said the vehicle told him. Kasimov signed the come down with with Chase, but buried in the centre was idiolect indicating that the lender could dilate the required eager folding money to 25 percent even after accepting the 5 percent, Robinson said. And, he said, that's what happened.
Kasimov couldn't instigate the very hard cash and mislaid what he'd already put up. Other plaintiffs Other plaintiffs are Kasimov's wife, Diana Shakhnazaryan, who was not married to him at the time, and her mother, Svetlana Kocharyan, both of whom fled Azerbaijan and gained administrative asylum here about 10 years ago. In 2006, Kocharyan worked on an making separatrix and her daughter had a part-time bother washing whisker in a Kirkland knockout salon. Together, they made $3,659 a month, court documents say. Chase prequalified them for a 95 percent mortgage for the grasp of a $922,600 condominium, giving them a $7,198 monthly payment, including condo dues.
Standard advance underwriting criteria command a debt-to-adjusted-gross-income correlation of less than 45 percent, which means that the women would have had to have "an adjusted flagrant takings of $16,000 a month," the lawsuit says. Since they audibly did not, and translate they were never given a copy of the knit - which was written in English, a wording they didn't learnt - they depose that the stockbroker put down fabricated numbers making it accomplishable for them to prequalify. Kasimov and the other plaintiffs, Yuri and Dora Aleksandrov and Davud Kasparov, most of whom are not natural in English, decide the same allegations in the suit.
In Kasparov's case, he was a schoolgirl with an receipts of $3,600 a year and says he was told he prequalified for a $634,000 condominium. Court documents prognosticate the Aleksandrovs put down $36,000 in fervent cabbage - from refinancing their native - on a $724,000 condominium for which they were told they prequalified. The Aleksandrovs have a copy of their compress and noticed that the Chase middleman listed Dora Aleksandrov's return as a hairstylist not at the factual $2,147 a month, but at $12,500.
Chase's underwriter "red flagged" the record and, the convenient to says, wrote "income … appears consequential for bailiwick and regulate in face of work" and wondered if she worked with celebrities. But, the court documents say, Chase ignored its underwriter's red check and prequalified the Aleksandrovs. Times researcher David Turim contributed to this story. Nancy Bartley: 206-464-8522 or Information in this article, initially published February 20, 2009, was corrected February 25, 2009.
A untimely conception of this anecdote incorrectly stated that Kasimov was a first off ease homebuyer at the age of the attempted Bellevue Towers purchase. He bought a condominium in Redmond in 2004. He also started a gain of two houses, one in Bellevue and one in Redmond at the same adjust he prequalified for the Bellevue Towers condo.
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