Can’t Blame Loss Of Property Value After Foreclosure On Appraisal Done Seven (7) Years Earlier.

After his home was placed in foreclosure in 2011, plaintiff brought an action to try to halt foreclosure proceedings. In it, he contended defendant made fraudulent misrepresentations or omissions by stating the appraised fair market value of the home in 2004 was increasing and that the appraisal was outrageously speculative. The trial court sustained defendant’s demurer without leave to amend. Noting that plaintiff “does not allege a correlation between his property value decline and defendants’ alleged conduct related to the appraisal value,” the appellate court affirmed. (Graham v. Bank of America (Cal. App. Fourth, Div. 1; May 23, 2014)226 Cal.App.4th 594, [172 Cal.Rptr.3d 218].)