therealdeal.com
7 months agoLA real estate
Cathay Bank Forecloses on Pacific Palisades Mansion
Chinatown-based lender Cathay Bank has foreclosed on a Pacific Palisades mansion after the owner fell behind on $13.1 million in debt.
The property was sold at a public auction for $5 million, with $14.4 million of unpaid debt. [ more ]