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  #1  
Old 04-28-2006, 06:52 AM
Tony V's Avatar
Tony V Tony V is offline
 
Join Date: Mar 2005
Location: East Hopland, Suffolk County, NY
State: New York
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Default Broke/Scammed/Evicted/Deer Park

http://www.newsday.com/news/local/lo...age-bigpix2005
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Some of us know the real story behind the phoney on the White Horse..
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Old 04-28-2006, 07:24 AM
Claude From NY Claude From NY is offline
 
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Two Long Island mortgage fraud stories in a week and more crooked MB's going to jail. I like that!

Last edited by Claude From NY : 04-28-2006 at 07:27 AM.
  #3  
Old 04-28-2006, 07:30 AM
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Glenn Redo Glenn Redo is offline
 
Join Date: Dec 2005
Location: Suffolk County
State: New York
Professional Status: Certified Residential Appraiser
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Default 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.

Last edited by Glenn Redo : 04-28-2006 at 07:33 AM.
  #4  
Old 04-28-2006, 02:08 PM
Tony V's Avatar
Tony V Tony V is offline
 
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I see Claude was on the move today...

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Last edited by Tony V : 06-13-2011 at 09:36 PM.
  #5  
Old 04-28-2006, 02:30 PM
Claude From NY Claude From NY is offline
 
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Default 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  
Old 04-29-2006, 03:12 AM
Hal Mann Hal Mann is offline
 
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Location: New York, NY
State: New York
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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.
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Old 04-29-2006, 06:18 AM
Claude From NY Claude From NY is offline
 
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"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  
Old 10-23-2006, 09:24 AM
Lisa Szeto Lisa Szeto is offline
 
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Do you think the HO's would have been better with a reverse mortgage?
  #9  
Old 10-25-2006, 11:19 AM
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Kevin Mc Kevin Mc is offline
 
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Quote:
Originally Posted by Claude From NY

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.
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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