- Joined
- Aug 18, 2005
- Professional Status
- Certified Residential Appraiser
- State
- Oregon
Good Morning Everyone...
After a long year and ½, I am finally able to talk about my lawsuit. This is part one.
I just wanted to share this information, as my goal is to help anyone who gets into the situation I did.
In October 2005, I was sued in a civil suit for fraud, conspiracy, conclusion and you name it. I worked for a Mortgage Broker (yes, it was a Mortgage Broker) and completed 23 assignments for him. He had a straw buyer on 5 of the properties. I had no idea!!!! Once I realized that something was not right, I contacted my board and advised them that Mr. Mortgage Broker was doing something I was not comfortable about. They were going to keep his name on file if something happened. Well it did!
One month later I received 3 summons and that was just the beginning! The MB was arrested and then released as the police did not have enough evidence. He was asked to surrender his passport, but left before that happened. What a surprise!
The lawsuit had to be mentioned in our local paper, as he had disappeared! So you know the story there! Only 75,000 people in the town and my name has been mud (but it wasn't as bad as it could have been). I am truly blessed.
Just last November I decided to pull the trust deeds on these 5 properties and of course they were all purchased as primarily residences. I knew it in my heart and mind, but I had to prove it. Well, a month later the lawsuit was dismissed with predudice. WOW!!!!
I share this story because I am one of the lucky ones. If you think it can't happen to you, it can!
Having said that it cost a lot of money in lawyers fees (including a criminal lawyer), my E&O will never be the same, some loss of health, just about lost my mind and on and on! I am a pretty optimistic person and came through this knowing they cannot take away my family, friends and my peers! What a gift!
Here is my bottom line. If you find yourself in a similar situation, please PM me. Not sure what I can help with, but my goal now is to give back to others that helped me!
I don't think there is one person on this forum that didn't help me through this. Thank you all for your input on this board, as you all have such great wisdom and knowledge...
Pam and Cynthia you are my Angels!!!!
After a long year and ½, I am finally able to talk about my lawsuit. This is part one.
I just wanted to share this information, as my goal is to help anyone who gets into the situation I did.
In October 2005, I was sued in a civil suit for fraud, conspiracy, conclusion and you name it. I worked for a Mortgage Broker (yes, it was a Mortgage Broker) and completed 23 assignments for him. He had a straw buyer on 5 of the properties. I had no idea!!!! Once I realized that something was not right, I contacted my board and advised them that Mr. Mortgage Broker was doing something I was not comfortable about. They were going to keep his name on file if something happened. Well it did!
One month later I received 3 summons and that was just the beginning! The MB was arrested and then released as the police did not have enough evidence. He was asked to surrender his passport, but left before that happened. What a surprise!
The lawsuit had to be mentioned in our local paper, as he had disappeared! So you know the story there! Only 75,000 people in the town and my name has been mud (but it wasn't as bad as it could have been). I am truly blessed.
Just last November I decided to pull the trust deeds on these 5 properties and of course they were all purchased as primarily residences. I knew it in my heart and mind, but I had to prove it. Well, a month later the lawsuit was dismissed with predudice. WOW!!!!
I share this story because I am one of the lucky ones. If you think it can't happen to you, it can!
Having said that it cost a lot of money in lawyers fees (including a criminal lawyer), my E&O will never be the same, some loss of health, just about lost my mind and on and on! I am a pretty optimistic person and came through this knowing they cannot take away my family, friends and my peers! What a gift!
Here is my bottom line. If you find yourself in a similar situation, please PM me. Not sure what I can help with, but my goal now is to give back to others that helped me!
I don't think there is one person on this forum that didn't help me through this. Thank you all for your input on this board, as you all have such great wisdom and knowledge...
Pam and Cynthia you are my Angels!!!!
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