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Zapf’s loan default: Source documents (updated w/comment)

May 20, 2010 - 12:55 pm

If you haven’t already, read what we reported at SDCityBeat.com today about Lorie Zapf. The San Diego City Council candidate, who is campaigning on fiscal responsibility, is more than six months behind in payments on a loan that could result in foreclosure on her house.

In late March, Wells Fargo filed a “Notice of Default” with the San Diego County Recorder stating that Zapf and her husband, Eric, owe more than $7,000 on a $230,000 line of credit. If the Zapfs don’t pay it off by the end of June, Wells Fargo can sell their home.

UPDATE: One of Zapf’s Republican opponents, Kim Tran, emailed us this statement:

I am sorry to hear she is having financial problems. However, defaulting on a note to obtain better interest terms seems extreme. Sounds like she has been engaging in the same behavior as the city, i.e. spending more [than] she has.

Below are photographs of the source document, for you wonky types. Just click to enlarge.

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2 Comments leave one →
  1. denisfay permalink
    May 20, 2010 - 9:29 pm 9:29 pm

    I’d be willing to bet that she will not be the recipient of this money.

    >Zapf is about to receive a huge boost to her campaign as the San Diego County Republican Party has been cleared by a federal judge to donate tens of thousands of dollars to her campaign.

    The party is using the candidacy simply to wash money. It’s a losing race and they know it. They also got sold a bill of good by demaio that this was “the” candidate to run with.

    *snicker*

    some of this are finding this predicable.

  2. pistoleropete permalink
    May 20, 2010 - 9:37 pm 9:37 pm

    If I wasn’t a registered Independent, I’d vote for her.

    #1-Just to further fuck this city over for all the bullshit it pulls
    and
    #2-She’ll fit right in.

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