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Broke/Scammed/Evicted/Deer Park

Discussion in 'New York' started by Tony V, Apr 28, 2006.

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  1. Tony V

    Tony V Elite Member

    26
    Mar 29, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
  2. Claude From NY

    Claude From NY Senior Member

    0
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Two Long Island mortgage fraud stories in a week and more crooked MB's going to jail. I like that! :new_bluegrab:
     
    Last edited: Apr 28, 2006
  3. Glenn Redo

    Glenn Redo Sophomore Member

    0
    Dec 14, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Thanks alot T

    I just can not tell you how much it cheered me up to read that article in Newsday. It is always nice to know that two companies (First Franklin and Southern Star) that you were doing work for at teh time of this fraud were involved in this type of s***. Imagine my relief when I realized that I covered that area for them at the time of this fraud. The girl is still a broker (Tina Fellows). We were still located in at the big office in Mineola when Mitchell Sims was there SS . I will keep you updated. I have got to go burn some of my paperwork and book a flight LOL. :new_blowingup:
     
    Last edited: Apr 28, 2006
  4. Tony V

    Tony V Elite Member

    26
    Mar 29, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    I see Claude was on the move today...

    [​IMG]
     
    Last edited: Jun 13, 2011
  5. Claude From NY

    Claude From NY Senior Member

    0
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Was that you on the Sunrise?

    Yea the weeds off of Starrett City and Rockaway Blvd. have become too crowded so I made a "delivery" way out on the east end. Won't see them no more. I'm expecting a very busy carpet season.
     
  6. Hal Mann

    Hal Mann Senior Member

    0
    Jan 19, 2005
    Professional Status:
    Certified General Appraiser
    State:
    New York
    It's great that the sleazeballs have been fingered (we'll see if they get nailed), but one aspect of the story is disturbing. The Calvagnos (ho's) were presented as such victims. They were already: 1) in foreclosure, 2) $128,000 in debt, and 3) unemployed - before they fell into Sims' clutches. No, they were already goners before Sims was involved. It's not at all clear who was defrauded here.
     
  7. Claude From NY

    Claude From NY Senior Member

    0
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    "Sims and co-defendant Tina Fellows were arrested and later pleaded guilty to grand larceny, and agreed to relinquish the deed back to the Calvagnos. Mitchell Sims and Fellows have not yet been sentenced."

    You're right they have not been nailed yet. Who knows what deal they have worked out. I agree that the HO's were no angels. But what about the investor? She's crying foul also.
     
  8. Lisa Szeto

    Lisa Szeto New Member

    0
    Oct 23, 2006
    Professional Status:
    Real Estate Agent or Broker
    Do you think the HO's would have been better with a reverse mortgage?
     
  9. Kevin Mc

    Kevin Mc Elite Member

    0
    Jun 7, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    Makes you wonder how many of these lease/buyback deals are out there. I would imagine if these two did it(their only problem being not paying the mortgage) how many others are doing it. I was always under the impression that these deals were strictly hard money(with a 70% L/V max) with a years worth of mortgage payments made up front(at closing) while the owner(now tenant) repaired their credit. I never knew a lender who would knowingly get involved in this so the investor probably was out of the loop....just a guess.
     
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