dismattling the PONZI
robert tapia to storyproposals
More options 8:14 am (4 hours ago)
We were destined to meet, Edith Winn was making copies of her HUD 1 when my wife was giving out fliers for our newly incorporated start up- Avenue S Mortgage Document Auditing and Notary Services, Antelope Valley , Ca. We are victims ourselves and we were deeply concerned about others who would not be able to fend for themselves. We took it amongst ourselves to do what we feel would make a difference to every homeowners life. We felt this overwhelming glow flowing inside of all of us as Ms. Winn presented her Loan documents to us immediately we knew we were there just in time for her.
What sets this particular Mortgage Fraud Scheme apart from the rest is the magnitude of its web of deceit as we dug in deeper we found more disturbing facts...it was being blatantly used as a method of acquiring real estate investment agreements and/or investment contracts all which are securities under the CSL (California corporate Securities law of 1968).
When Ms. Winn's Spouse passed away in 2003, he left her with a home that was only down to $110,000 only thing needed was to transfer the title under her name. After calling around and inquiring for best referrals she met a gentleman in the name of Dr. Neil Horn MD who represented himself as a real estate investor and MD at the same time. Because of his pleasant demeanor he earned Ms. Winn's trust and confidence immediately.
7/25/2005 the Loan was closed and to the surprise of Ms. Winn the new loan amount went up to $140,000 when all she did was a rate and term financing/no cash out and the curt reply of Dr. Horn was that all the fees had to be paid out of the loan.
8/17/2005- a month later, a junior Lien of $2,536 was placed by Pacific Shores Realty and Mortgage Inc. Origin of Lender and purpose of that charge was unknown to Ms. Winn.
5/3/2006- Almost a year later Dr. Neal Horn M D persuaded Ms. Winn to consolidate her debts. Quality Home Loans attempted to do the loan and recorded the Title at $165,000 but filed a reconveyance on 5/22/2006
6/28/2006- Another set of documents were brought forth for Ms. Winn with all the assurances that everything is fine. Ms. Winn signed. Benvani, Inc., appeared on the HUD 1 as a Lender and recorded Ms. Edith Winn on Title as a tenant and to her shock and disbelief a loan amount of: $192,000.
On an amendment to closing instructions, Neal Horn Got Paid $170,568.53 and from that made a $30,000 (21.5%) profit in approx a year.
The HUD 1 dated 6/29/2006/ - Unified Mortgage also got paid $170,696.05
Pacific Shores received $2,536.77 for the lien they placed 8/17/2005
The HUD 1 and the Title report on record showed an inconsistency in dates. How can the property be recorded first even before the loan was done (6/28/2006).
Out of all this $0.00 refund due borrower and an Adjustable Rate Mortgage that starts this poor retired woman @ 11.5% and cap at 21.5% after a 1-year rate lock. The a balloon payment in 30 years of $193,000.
She barely makes $2,600 approximately and her lender/broker set her mortgage payments way over what she can afford comfortably. All told Ms. Winn was stripped out of $82,000 in equity. They are evicting her soon now that she was unknowingly made to be a tenant of her own home.
Benvani , Inc. did not register as a licensed lender on the Ca. Dept of Corp website. also known as: Gregg's Artistic Homes and R G Lending of which neither one of them is registered/ licensed.
TLC, Emvest(Milon Brock-CEO, daughter is the Pres. of Unified Mortgage), Pacific Shores/Mark Sprague- Were all indicted for securities fraud. They issued investment instruments in the form of promissory notes, real estate investment agreements ans/or investment contracts, all of which are securities under the CSL. They offered and sold these securities through two distinct investment programs- Tax Lien Certificates and Opportunity Properties. They represented that these securities had a one year term, carried an interest rate of 6-15% and that the principal would be repaid at the maturity date. At the end of each one-year period, the investor was offered the chance to roll over the investment for another one-year period. With guaranteed high returns on Opportunity Properties promised. Sales commissions of 4.5-6% plus bonuses are given to their agents.
These securities were not qualified with the state of California. The securities issued by them were offered and sold by means of untrue statements of material fact and omissions of material facts, in violation of the California Corporate Securities Law of 1968, Corporations Code25000 et.seq.
The instruments of mass destruction of choice used is Mortgage Fraud.