CA CA - Bob Harrod, 81, Orange County, 27 July 2009 - # 9

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CALIBER FUNDING LLC:

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

They have a number of California locations:

http://caliberfunding.com/Caliber-Locations.html

As for these folks, I am finding them most commonly associated with defaults-
MORTGAGE ELEC REGISTR SYSTEMS INC BFC

I am stunned that AH can get mortgages and second mortgages with such ease given his entire payback history. He was in bankruptcy and defaulted on the mortgage he had prior to Bob bailing him out-is that correct or am I confused? I wonder why creditors consider him to be a solid risk?
 
I think we'd want to get the details of AH's default and shady dealings to whomever underwrites for both the named mortgage companies. It's the underwriters who I think would be most interested. ETA: Especially since they just approved two mortgage notes for someone who hadn't made a mortgage payment in approximately 36 months prior to this most recent note. (source AH's deposition, linked upthread).

Most lenders today require proof of payment history and proof of clean credit. We know AH does not have clean credit and was in default to the point of possible foreclosure on the property his grandfather financed, so what kind of shady documents did he provide for this mortgage application? Time to get some of those court docs to both mortgage companies underwriters. They shouldn't be too hard to find.
 
Possible mortgage fraud might be an in for PPD. Just saying....
 
IIRC, the closing documents required by mortgage companies have some kind of fine print indicating if any information provided by the borrower(s) is false the mortgage holder could call the note due in full immediately.

Off to look for underwriting information.
 
OK-I want to get this straight in my mind.

The face amount of the deed of trust Andrew walked from was 735K. What was due on the note was 717,446.32 plus accrued payments of 85,059.96 according to the calculations of the co conservators. They state in their filings, and Andrew states in his deposition, that he had not made payments on his mortgage from 7/2009.

According to the trial testimony from 10/2011, Andrew walks from the debt as long as he pays three months of rent payments to the trust...roughly 6K. Rent payments, not mortgage payments.

So Cubby indicates that it is likely the underwriters would be looking for proof that he made regular mortgage payments for the last three years against that astronomical debt. Which he didnt. He says it in his sworn deposition and his aunts testify to it in the trial minutes.

So, does anyone think that the bank would have been swayed by Andrew saying-"Listen my grandfather disappeared and I didnt make any payments because he told me (a conversation not recorded anywhere in writing or otherwise) that he would forgive this monsterous loan upon his death." We will set aside the fact that Bob has not been declared dead.

I am genuinely curious-how does this all work? Does the bank pull all of the past deeds? I am not adept at all of this so I appreciate anyone who can walk me through it. TIA.
 
Please forgive the cliche, but "the plot thickens." Should be verrryyy interesting to see exactly what has happened in this situation.

Once again, poor Fontelle. She is being hounded, if you will, for rent on the home belonging to her husbandwho has not been declared deceased, but the grandson - about whom there is much speculation - seems to be rolling in $$$. hmmmm
 
With private financing, the financer would have to report to a credit agency in order for negative credit to appear on one's credit report.

With money down, usually the bank will require that money to be seasoned, iow, they want to know where it came from. It can't just be deposited one day and then used for a down payment or costs the next. It has to be sourced, where did it come from. AH certainly did not have any equity in the home he walked from.....

I'd really like to see what documentation AH provided his mortgage financers to establish excellent credit in a tight market when banks really are not lending money. I mean, here we have a guy who did not make a single mortgage payment for almost 2 years prior to turning the house back over to the trust. That is longer than it would take a bank/lender to foreclose on a house. How is it then he walks from more than 700,000 owed on one mortgage to another jumbo loan? And did he or his Aunts provide any false information to satisfy the requirements of his current mortgage companies?

I'm going to do some digging for some of these questions....
 
Usually what happens with financing is the loan officer collects all the documentation and sends it off to underwriting. Who review and verify the info and make the determination if the financing is approved or not. The question in my mind, is what was sent to the underwriting department which would lead them to believe AH was a 'safe investment' when he just lost/walked from a 700,000 home? From my RE days, before the market crashed, most people in that situation would have to wait at least 3 years to purchase again.

I'm definately going to do some digging.....
 
:bump:


The above video is one I have not yet listened to with sound. That is on my to do list later today as I'll have access to a computer with sound.

I sense a break coming in this case soon. Bob, justice is coming for you!
 
Cubby said:
:bump:


The above video is one I have not yet listened to with sound. That is on my to do list later today as I'll have access to a computer with sound.

I sense a break coming in this case soon. Bob, justice is coming for you!
Click to expand...

This man deserves it. So does his wife.
 
Cubby said:
Usually what happens with financing is the loan officer collects all the documentation and sends it off to underwriting. Who review and verify the info and make the determination if the financing is approved or not. The question in my mind, is what was sent to the underwriting department which would lead them to believe AH was a 'safe investment' when he just lost/walked from a 700,000 home? From my RE days, before the market crashed, most people in that situation would have to wait at least 3 years to purchase again.

I'm definately going to do some digging.....
Click to expand...


Looking forward to the results of that digging. Something smells bad here.
 
Cubby said:
:bump:


The above video is one I have not yet listened to with sound. That is on my to do list later today as I'll have access to a computer with sound.

I sense a break coming in this case soon. Bob, justice is coming for you!
Click to expand...

From your post to God's ears about justice coming for Bob and Fontelle.
 
I've been silently following this case for a long time. Thanks for posting the video again! I hope justice comes soon for Bob and Fontelle. It's so sad to me that they were reunited and ripped apart so quickly once again.
 
Still trying to understand all of this here-Cubby, I took this off of Trulia

Sold $719,000
Public records Recording Date 06/20/2012
Contract Date 06/13/2012
Sale Price $719,000
Price Type Full amount computed from Transfer Tax or Excise Tax.
County Transfer Tax $791
Transaction Type Purchase/Resale Arm's Length Residential Transaction Document Type Grant Deed
Click to expand...

What does Purchase/Resale Arm's Length Residential transaction mean?
 
believe09 said:
What does Purchase/Resale Arm's Length Residential transaction mean?
Click to expand...

I answered my own question-this was a short sale and the transaction means there isnt supposed to be any association between the seller and the buyer. Hence the range pricing.

Here is a very similar home on the same street with wood floors that sold for 675, in fact it is larger.

http://www.zillow.com/homedetails/3975-San-Antonio-Rd-Yorba-Linda-CA-92886/25372236_zpid/

:shrug: There you go.
 
believe09 said:
I answered my own question-this was a short sale and the transaction means there isnt supposed to be any association between the seller and the buyer. Hence the range pricing.

Here is a very similar home on the same street with wood floors that sold for 675, in fact it is larger.

http://www.zillow.com/homedetails/3975-San-Antonio-Rd-Yorba-Linda-CA-92886/25372236_zpid/

:shrug: There you go.
Click to expand...



A lot of factors go into the asking and selling price of a property as well as the appraisal of a property. Size/square footage is only one...

Personally, I want to see the underwriting guidelines and I'd think PPD would be interested in seeing those too. Or perhaps whomever oversee's the banking/mortgage regulations for CA. If there were any potential fraud here from the appraisal to the documentation provided to secure financing...

Bob paid so to speak already with more than just his money. Bob's family is clearly going to take what they see as their's, regardless and if there is potential fraud or illegal activity in doing so, then LE needs to be taking a look at it.

I am pretty sure the underwriter was unaware AH had failed to make a mortgage payment for almost two years when approving the loan for the YL property AH just purchased. Unless AH had provided the lender with the papertrail for the money he failed to pay his grandfather. I think LE should be interested in what happened to the money owed Bob and were it went if such documentation exists. And if not, why wasn't this mortgage company made aware of such and how did AH provide proof of payment on housing which would be required to secure such financing?
 
suzyq211 said:
Every time I watch this video I cry...You can tell he is so in love and happy. How could someone decide that their desires were more important than his? He EARNED the right to be happy for the rest of his days!

http://www.ktla.com/videobeta/?watchId=787b9661-cce5-40f4-ae8a-ec7b54c23643
Click to expand...


I finally watched the KTLA video with sound. It's amazing to have finally heard Bob's voice. There is so much more that can be said for the sound of honesty in a voice...... and it is very clear to me Bob honestly felt he was the luckiest man on the planet to have been given a second chance with his first love. There is nothing less than genuine in Bob's telling this story of his love for Fontelle.

I suspect not only money, but jealousy, of the love Bob gave to his wife rather than what was expected of Bob from his offspring..... Both money and jealousy, imo, sprung this web of lies and deceit.

Justice is coming for you Bob. Your wife is not giving up, nor are we giving up until the truth is found and justice is had.
 
I don't post here on Bob's thread often, but I do keep up and it just sickens me so that greed could factor into harm coming to an elderly person. I know I have posted here a few times, and as I was very close to my (late) elderly parents, it hurts me so much to imagine anyone not being grateful for every possible moment of a parent's life, and being happy for any happiness they can find.

I have no idea who harmed Bob or what happened to him and am not pointing fingers, but it does seem somewhat clear, IMO, that his happiness was not what some of his relatives wanted. That, I cannot comprehend.

I hope he is at rest; maybe his body is not where it should be, but if he is deceased, as he must be, he has not been in that physical place anyway. That is some comfort.
 
cluciano63 said:
I don't post here on Bob's thread often, but I do keep up and it just sickens me so that greed could factor into harm coming to an elderly person. I know I have posted here a few times, and as I was very close to my (late) elderly parents, it hurts me so much to imagine anyone not being grateful for every possible moment of a parent's life, and being happy for any happiness they can find.

I have no idea who harmed Bob or what happened to him and am not pointing fingers, but it does seem somewhat clear, IMO, that his happiness was not what some of his relatives wanted. That, I cannot comprehend.

I hope he is at rest; maybe his body is not where it should be, but if he is deceased, as he must be, he has not been in that physical place anyway. That is some comfort.
Click to expand...

I agree cluciano-Justice and closure are for the living I suppose.
 
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