CA CA - Bob Harrod, 81, Orange County, 27 July 2009 - #10

[zwiebel]

Oh my gosh, did anyone see that bit that said trust A then becomes a REVOCABLE trust. Does that mean Bob could have changed his terms WITHOUT the permission of the beneficiaries, and left everything in A, to Fontelle?

 

[GrainneDhu]

Thank you, gitana! The thank you button is just not enough. :tyou:
Excellent link for the trust explanation.

I'd really like to see that super secret settlement agreement in the hands of AH's mortgage lender.

Ever since you made the suggestion that a forensic accounting of Bob's financial affairs going back for some years before his disappearance might be revealing, I keep thinking that would be such a good idea. Go back 10 years or so and find out what was really happening with Bob's finances.

 

[gitana1]

AH recently secured a loan on a 700K+ property. Given his mortgage payment history we wondered how he qualified for a mortgage so soon after defaulting/non payment on the loan from his grandfather.

I see. Fraud!

Don't know about over your way, but here mortgage companies have the right to call in loans immediately, and in full, if inaccurate info was supplied during the application.

It's the same here.

Hmmm. Wonder if there might be a little birdie around that might let his lender know what's up? Do we know the name of the lender?

 

[Cubby]

I see. Fraud!



It's the same here.

Hmmm. Wonder if there might be a little birdie around that might let his lender know what's up? Do we know the name of the lender?

We do. I can't think of the name off the top of my head, but it is in one of the threads as well as listed publicly with the info on the sale of the home.


ETA: Caliber Funding, LLC.

Websleuths Crime Sleuthing Community - View Single Post - CA CA - Bob Harrod, 81, Orange County, 27 July 2009 - #9

 

[zwiebel]

Funded by Lone Star Private Equity.

http://www.caliberfunding.com/About-Caliber-Funding.html

 

[zwiebel]

Followed the link from their website to this one, re penalties for mortgage fraud:

http://www.sml.texas.gov/Residentia...nce_reporting/rmlo_disclosure_343_105_eng.pdf

 

[zwiebel]

Penalty is 2 to 99 years' imprisonment AND a fine not exceeding €10,000.

 

[Cubby]

Not sure if that link posted in #1066 is applicable in CA. Not sure how that would carry over from TX to CA.

I also wonder if that applies to only the borrower or anyone who provided the borrower with information to assist in securing mortgage financing. Questions, questions.......

 

[zwiebel]

I know that since millions lost their jobs and the world was brought to the brink of disaster, banks have completely reformed themselves.

Can't help feeling though, ( in this particular case) Caliberfunding may be about to receive, or have already received, a note explaining how a certain client has become the subject of internet rumours and any queries should be ignored.

I think the mortgage lender may also be responsible for, well, making sure they lend responsibly. So, twisted as it may seem, I think it may be better to complain about the BANK, for possible irregularities in lending, because they will then be legally obliged to investigate?

 

[Cubby]

It's really up to the bank and LE to decide what to do with that information, including whatever the super secret settlement agreement contains. I can't help but wonder if it contains misinformation which the lender used to deem AH credit worthy and if so, is only AH liable? Or are perhaps the co-conservators liable in any way?

IANAL, so these are simply avenues for LE to pursue further.....

No stone left unturned in the search for Bob.

 

[believe09]

gitana1, lets take the new mortgage of AH one step further-he put 14K down. That was it.

As for the trust, gitana1, would you confirm whether or not the personal bequest left to AH by his grandfather should Bob predecease him was 10K?

Not a walk on his loan, and just 10K out of a multi million dollar estate. His only grandchild.

 

[zwiebel]

I suppose if anyone/any entity has knowingly given false info in support of a mortgage application, they/it would also be liable to penalties.

No way would I want to get in LE's way or anything, but as to the banks......well, it was left up to them to decide what to do with sub-prime loans, and we all know what happened there.

Having said all that, they do stress on their site that all mortgage applications are assessed individually and different factors taken into account......They must still abide by banking regulations for lending though.

 

[believe09]

Agreed zwiebel-it is clear there is something we are missing in this purchase. Never the less, it is impressive that someone can find a lender who will front that kind of money with a significant gap in their mortgage history. He didnt make any payments for two years. Then he apparently rented for a year and bought a 700K home.

I wonder how they felt about the gap in his payment history-clearly it didnt bother them.

It *feels* like his mortgage might have been guaranteed in some way or his payment history might have been...altered? Surely not. It would be easily found out.

Ugh. and Ugly. That is what this case is.

 

[Cubby]

I suppose if anyone/any entity has knowingly given false info in support of a mortgage application, they/it would also be liable to penalties.

No way would I want to get in LE's way or anything, but as to the banks......well, it was left up to them to decide what to do with sub-prime loans, and we all know what happened there.

Having said all that, they do stress on their site that all mortgage applications are assessed individually and different factors taken into account......They must still abide by banking regulations for lending though.

Yes, they (meaning the bank) have some guidelines to follow in order to sell these loans to the secondary market.

Before the market crashed it was my understanding the loan officer who took the loan was (also) investigated should the loan go into default and the bank have to foreclose.

Just how this might be looked at by LE and/or the bank in a MP case being investigated as a possible homicide, IDK. Especially when LE has stated money is the motive behind Bob's disappearance.

 

[Cubby]

Anyone besides me think we should start a 'super secret' list?

I'll start:
1. Timeline
2. Home repairs
3. Settlement agreement on the grandsons default on the mortgage note he owed Bob.

 

[zwiebel]

Anyone besides me think we should start a 'super secret' list?

I'll start:
1. Timeline
2. Home repairs
3. Settlement agreement on the grandsons default on the mortgage note he owed Bob.

I definitely agree, though I think we would be wise to check with cloudajo and Angelo first, just in case these super secret lists have secretly been compiled already, and they've just been waiting for someone to ask for them!

Can we also get together a list of essential questions about the trust? I think that's such an important area - knowing who stood to gain what and when, not just upon Bob's death, but also Georgia's, and also in the event of the deaths of their children.*Now I know for sure what type of trust it is, I'm looking back through posts, as Shana and Allusonz have posted some useful links.

 

[believe09]

Stars appear if you link websites that arent permitted or use words that arent permitted here:

example-
www.************.com or ****

Both the URL above and the word I typed are vile curses, lol.

 

[believe09]

LOL Cubby!!

 

[zwiebel]

Stars appear if you link websites that arent permitted or use words that arent permitted here:

example-
www.************.com or ****

Both the URL above and the word I typed are vile curses, lol.

Thanks, but GrainneDhu already suggested that and there was no word between 'children' and 'Now', let alone a link. I'm being stalked by stars.........I'm going to imagine there's a good reason a single star is accompanying me on my journey here at WS, and stop getting annoyed. Just so long as you all know I'm not putting them there deliberately.*

 

[zwiebel]

Now that was funny.