| Secured Assets Group |
| Secured Assets Group, LLC Free and Clear Holding Company, Out of the Box Solutions, fairfight4yourhome.com, Douglas Thayer, Karen Kamman Foreclosure/M |
| 30th of May, 2011 by User370999 |
| Douglas Thayer, a convicted sex offender, is heading up this program that supposedly will save your home from foreclosure and reduce your mortgage to less than half of the tax appraised value. Don't believe it -- this is a scam by Thayer and his cohorts. Thayer previously had an injunction filed against him by the State Attorney General in Texas to stop him from a different real estate scam there a few years ago. Out of the Box Solutions, fairfight4yourhome.com, Secured Assets Group, LLC and Free and Clear Holding are all entities involved in this scam. They take $1500 up front, ask you to transfer your property into a land trust that will declare bankruptcy and force your lender to prove the lender owns your mortgage. In the meantime, you're supposed to pay them rent that will be applied to your new mortgage. IT IS BALONEY! They cannot legally do what they claim they can do. All you'll be doing is lining these criminals pockets. Don't do it -- stay away from this scam. |
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If you can say you have NEVER broken a law you can be the 1st one to throw the first stone. You can't say you never ran a STOP sign/red light, drank liquor before you were of legal age, threw trash in your neighbor's yard, crashed someone's car in a parking lot and drove off, slapped your kid or spouse, stole something from a store even if it was just a peanut a grape to sample it, take paper clips from you works place or made copies for personal use at work, etc., etc., etc.
If you can say you have NEVER broken a law you can be the 1st to throw the first stone but I bet my last $$$ you are guilt... |
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| The bankruptcy trustee has now filed a motion to dismiss the first Free and Clear's bankruptcy filing because it is a bad faith filing. I imagine a second will soon follow for the second bankruptcy. I also expect that both will be granted by the bankruptcy court. These people are scammers -- DON'T GIVE THEM Y9UR MONEY AND REPORT THEM TO YOUR LOCAL DISTRICT ATTORNEY! |
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| Can someone please legally explain why this program is illegal, based on what laws? I am always being told this thing is right or that thing is wrong, but I wish that if someone was to discredit something, they would do it with proof and not just opinion. |
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I really do not see how faithful or anyone else can compare rape to stealing a grape or a paper clip or even running a stop sign. Yes we have all broken laws, some we are not even aware of. Rape is in another catagory all together. GET REAL!
In defense of this program being offered, I have to say that committing rape does not make this program invalid but it does hurt its credibility. the Real Estate scam in Texas does also hurt the credibility of this program. There are still a lot of questions to be answered. For me the jury is still out, we will see what the future brings. |
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This program is illegal because it violates the spirit of the bankruptcy code. This bankruptcy filing is set up in "bad faith."
One of the ways "bad faith" will be established according to "In re Stolrow's Inc., 84 B.R. 167 (B.A.P. 9th Cir. 1988)" is commonly known as "new debtor syndrome." The "new debtor syndrome" in which a one-asset entity has been created or revitalized on the eve of foreclosure to isolate the insolvent property and its creditors. In re Yukon Enterprises, Inc. identified seven "badges" indicating the presence of that syndrome:
(1) The transfer of distressed real property into a newly created or
dormant entity, usually a partnership or corporation;
(2) The transfer occurring within close proximity to the filing of the
bankruptcy case;
(3) No consideration being paid for the transferred property other than
stock in the debtor;
(4) The debtor having no assets other than the recently transferred,
distressed property;
(5) The debtor having no or minimal unsecured debts;
(6) The debtor having no employees and no ongoing business; and
(7) The debtor having no means, other than the transferred property, to
service the debt on the property.
To the "t" this is exactly what is happening with Free and Clear Holding Company. The bankruptcy is going to be dismissed, and all of those properties will be foreclosed on. Those defrauded by this company can only sue for the return of whatever they paid Free and Clear, but, that might even be a stretch.
It's a novel idea, but it's very poorly researched. The dismissal hearing is set for 07/13/11 and the case is guaranteed to be dismissed. Basically all of the homeowners that are part of this scam will lose their money and will still face foreclosure a couple months from now. It's really sad. |
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| I am always skeptical of ideas that sound like scams. After some considerable research in the area I think this company may really be on to something for real. The banks have all done some major greed-driven mistakes in the home foreclosure mess. The law is specific as to actual remedies and this plan can be within the guidelines providing they have other real assets, means of repaying verified debts and are not throwing the properties into a new corporation or other company entity that is clearly only created to bankrupt. I believe they may prevail on July 13th in Nevada. Let's wait and see. If they are wrong, this is a mistake they made that these homeowners have gambled on. Face it- these homeowners were losing their homes anyway. Maybe it is only the hail Mary they were hoping for. BUT if the plan of structure and settlement IS CORRECT in their positioning and argument, these guys AND THE HOMEOWNERS win big time. If that does happen prepare to hear a lot about this all over the news. Millions of homeowners across America should be hoping the is the answer for them against these horrible banks. It's just too early to determine with certainty if this is going to stand up. Check back after July 13th!!! |
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The banks are & will fight this "tooth & nail" including multiple dismissal requests in court, & smear campaigns such as this against anyone associated with the litigation.
The banks DEVASTATED our economy by freely foreclosing anything, refusing to do loan modifications, until the government set up a standard guideline.
The banks infrastructure was poorly constructed and they were not ready for the slow down in the economy. Phone system was & is inept, computer system inept, frequently losing clients loan mod & short sale info.
The banks were under-staffed & foreclosed rather than spending a few minutes to see what made better sense. They soon hired thousands of young people, average age 23, that were poorly trained and knew little to nothing of real estate law, and definitely did not know how to read real estate contracts.
The banks often refused excellent short sale offers only to auction the home off for considerably less money.
The banks are now offer loan modifications which are a joke, that often allows the home owner to basically rent their home, by paying a reduced "mortgage" yet to only still have a HUGE balloon in 30 years.
The banks don't care about the homeowners.
The banks ONLY care about their pocket books.
Now the banks are spreading a smear campaign against ANYONE who is against them!
This company is for REAL, has & is fighting the banks.
P.S. The blog 2 up is laughable!!! The "spirit" of the bankruptcy code!?!?!? Sounds like an attorney for the banks espousing his baloney... save it for the court. Medium & small businesses do this legal manuever often.
We will see in court. |
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| porsupuesto son una bola d rateros ami me quitaron 5000mil dolares una tal diana marquez o mejor conocida como diana peniche es una estafadora por su culpa perdi mi casa me saco el sherif por creerme de esa estafadora ojala algun dia puedan pagar con carcel lo q han echo ella vive en downey ca y aveces opera en south gate hemet o riverside mucho cuidado con ella a mi esposo le dio un ataque devido a ese problema mucho cuidado |
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