I started new company to separate it from mine. I wanted to make sure that taxes were paid correctly on loans that did pay.
Why did you start a company
in his name?
I met Abraham he had a house loan that was behind so I paid it for him until he could sell some assets.
His house loan was behind, and at this point you are saying he was broke already and
you had to pay his mortgage for him?
The mortgages are a mess in a half. He was tired of dealing with the people and knew it was going to be very time consuming and did not want to be around either when all these people started getting upset.
So, you thought that by "buying" these risky loans, you would be better equipped to collect on them?
Cedric does not have to say he sorry to me if he filed the report. He will have to answer to Abraham. There a lot more details but this is a quick review.
Cedric
did the right thing. He hadn't seen his cousin in awhile, couldn't get ahold of him, was concerned for him and reported him missing. Nothing wrong with that. I'm just sorry he took so long in reporting. (As a side note; I know Cedric, as he was my neighbor years ago, and I respect him)
Several houses Abraham bought for people were never filed. They went out and got loans with other companies. When Abraham finally filed papers he was considered the second mortgage holder. Those houses are now in foreclosure with the first loan holders. So they will be no money awarded on those houses.
Again, I have to ask....Why did you decide to take all this on?
So these great deals you keep talking about. I just don't see them.... I see court, lawsuits, headaches, and more....
All brought on by bad decision making, sloppy paperwork, and a missing man that won't/
can't come forward to help straighten it out.
Dmoore, if the sleuthsters on this website organize a list of questions, will you truthfully answer them, one by one? There are a lot of various questions that have been asked of you through this thread, and you have addressed some, but missed a bunch.