Lost to Foreclosure — San Diego Mansion

We Fall

Failures

• Loss of villa to foreclosure
• Loss of savings and other people’s investments
• Loss of business

In 2004, electrical engineer Suzy Brown started building her dream project — a 15-bedroom 17-bathroom Spanish-hacienda-style villa in an upscale neighborhood in San Diego.  She and her partners envisioned it as a high-end drug rehabilitation center for wealthy clients.

On February 13, Brown’s dream villa was foreclosed by lender Chevy Chase Bank, and on March 26, the bank reported a theft of nearly $1 million worth of fixtures from the mansion.

Brown partnered with best-selling author and alternative medicine advocate Deepak Chopra and 60 other investors.  Deepak later backed out, funds dried out and the bank finally foreclosed on the mansion.

Brown had to fight neighbors to launch her project.  Residents opposed Brown’s plan to treat up to 41 patients in the villa, arguing that California zoning law allows only up to six patients in facilities inside residential neighborhoods.

Brown said she spent $13 million on the villa, using all her savings and
money from investors. The villa was the realization of her dream, using dream fixtures and installing her own smart home system for the villa.

She moved out of the mansion on March 22.  She said she regrets building the villa.  “I spent 5 years and all my money went down the drain. I’m bankrupt now. I lost other people’s money.  Now I have to start over.”

Source: Paul Sisson, author
Article:  Encinitas: Monster house ends up a nightmare
Web site: nctimes.com

Photo:  John Koster for North County Times

Source:  Mike Von Fremd, author
Article:  Million-Dollar Foreclosure Theft
Web site:  abcnews.go.com

Tags: bank, deepak chopra, drug rehabilitation center, failure, foreclosed home, Foreclosure, investments, investors, lender, loss, mansion, money, neighbors, san diego, savings, suzy brown