Real Estate Nark

Tell the Truth, the Whole Truth, and Nothing But the Truth so Help me God. Stephanie DeYoung - Bankruptcy Whistleblower.

2010-02-24T20:40:00.001-08:00

PLEASE READ THROUGH ENTIRE POST -
THE TRUTH YOU ARE LOOKING FOR IS TOWARD THE END.

My name is Stephanie DeYoung. If you want to know more about my involvement in this case, go to my deposition...

http://www.summit1031bkjustice.com/?page_id=2471

Currently, I believe I am the only person who had the priviledge of an all day deposition in front of Tonkon Torp's camera man. Now when I see some of the ridiculous questions I was asked to answer, I still get blown away by their blatant disregard for human rights.

Bankruptcy Corruption

I am the creator of this Summit 1031 Bankruptcy Blog. I am an Industry Insider as an accountant, real estate investor, and an LLC interest holder.

I am also a Whistleblower and an Investigative Blogger.

These new titles were made possible by simply recording and sharing the events that I was a part of with the victims of this bankruptcy proceeding.

http://edlabor.house.gov/newsroom/2009/02/gao-nations-whistleblower-laws.shtml

I have sold this blog to Crystal L. Cox. You may know that she is an Investigative Blogger, Whistleblower and Industry Insider as a real estate broker. She stumbled on my blog and in doing so she has stumbled upon many other cases of Bankruptcy Corruption across our country.

In fact, there are many who have lost everything to this mechanism our government has created as a perfect looting tool. The powers of people like, the attorneys, judges, US Trustees offices, and the politicians keep this highway robbery undercover.

She has asked me to speak the whole truth so here we go...

Below is a story from a person who was a completely unbiased party -

"About the Summit Accomodators- Kevin Padrick Video
http://www.summit1031bkjustice.com/?page_id=254

ABOUT the infamous Padrick meeting video, when I first viewed it I didn't think it all that remarkable. Being ignorant of the facts at the time, I thought Kevin Padrick in this meeting, simply just gave a rundown of what he and his company, Obsidian Finance Group, had been up against in the month previous, and toward the end of the video it appeared that he pitched, with some practiced assurance I thought, how he and his company took pride in cleaning up distressed business situations.

As I began to become aware of the facts and the chronology of events preceding and following this meeting, my perspective changed; I came to see this video in terms of a betrayal as demonstrated by Kevin Padrick's defensive behavior toward the other parties around that table.

I also came to see how this video could be viewed as an embarrassment to the members of Obsidian Finance Group, the attorneys and others working along with Padrick and even the U.S. Bankruptcy Court. The scene viewed from a more informed point of view, whether one is for or against Kevin Padrick, is not pretty. He is, in this performance, much like a house cat spitting up the canary's feathers.

The behavior he resorts to in the video, in regard to the others, is in my estimation, an unnecessary act on his part, but none the less a telling display of the low character he stooped to with his surreptitious behavior toward, what up to that point had been, his employer, Terry Vance, and by extension Summit's Principals who were working their tails off to assist Terry in liquidating assets and wrapping up exchange business.

For me, the most revealing thing about the video was the last thing I learned- that this meeting in Bend was compelled by the Bankruptcy Judge a day earlier in Portland.

The Judge had learned, from a last minute appearance by one of Summit's representatives at a court hearing, that Padrick had not been keeping Summit's owners and the court approved Chief Restructuring Officer (CRO) informed of his actions. Actions that included Padrick's apparently self initiated and unauthorized actions with the creditors.

A little background: the CRO, Terry Vance, was contracted by Summit Shareholder’s (owners) as a part of a “debtor in possession” bankruptcy.

This person, approved by the court, is in charge of all affairs related to Summit’s Chapter 11 bankruptcy, including the contract with the financial consultants, in this case Obsidian Finance Group and Kevin Padrick.

In other words, for all intents and purposes, at this meeting and from the time Padrick and his Obsidian Finance Group had been contracted a month or so earlier, Terry Vance was Kevin Padrick's boss.

Kevin, it turned out, and as shown on the video, was an untrustworthy employee who had some time earlier, perhaps even from day one, made it his job to usurp his boss, disregard his contractual obligations and find his own way within the bankruptcy system, with his knowledge as a former bankruptcy lawyer, to gain the best position he and his company could to take financial advantage of this unfortunate situation.

Simply put, Kevin Padrick and Obsidian Finance were Bankruptcy Profiteering.

The meeting, authorized by Judge Dunn, was to be presented by Padrick to his CRO boss and Summit's owners as a recap of Padrick's (unauthorized) meeting(s) with the creditors, it is important to remember, at that point Padrick, who had been initially contacted by the Summit's owners prior to to the bankruptcy filing, and now managed under contract to the CRO was not in any way beholden to the creditors, other than promises he made them behind his employers back.

In fact by contract, Padrick's and Obsidians role was to assist in liquidating assets, in order for Summit to pay back exchangers/creditors under the Chapter 11 reorganization agreement. His role at the time was not to meet with the creditors, throw his employers under the bus and then back over them again when they complained.

If the person from Summit hadn't of scrambled and jumped a last minute flight over the Cascades to Portland to see what was going on, this unscrupulous employee would have gotten his boss fired and had his unwanted contract made irrelevant (which he succeeded in doing) and the people he screwed wouldn't have heard the backup signal for what it was.

No wonder in the video, one of the first thing heard
from Kevin is his voice crying,"Depose me then."

A comment that took the CRO and Summit's owners
by surprise (they'd merely asked, what's up?),

I don't believe an actual recap of Padrick's meeting with the creditors happened (if he had treated the creditors to the same charm he displays in the video, I doubt Padrick would have gained enough favor to collect gas money for his ride home, let alone be nominated by the creditors for the Trustee position).

It is interesting to note; the only way to compare meetings would be to compare records of both meetings. The closest thing to a record of Padrick's court compelled meeting with the CRO and Summit's owners is the video.

Justice would be served, if by means of discovery in a complaint Padrick lodged with Deschutes County against the video's existence, that a transcript(s) of Padrick's meetings with the creditors in the month prior to this meeting were compelled to be produced- to see by comparison if Padrick was in compliance with the Bankruptcy Court's wishes in providing information on what he presented to the exchanger/creditors.

At the time of the meeting neither any representative, nor the CRO, nor any of Summit's owners were, as far they knew, in an adversarial relationship with Padrick.

They were, as shown in the video, clearly a bit mystified by the lack of communication to accorded to them on Padrick's part. To their knowledge, he and his company were supposedly working on Summit's behalf to assist in liquidating Summit's assets- nothing more.

The video was made as far as the CRO and Summit's owners and their representatives knew, as much to record their comments in regard to each other's relationship to working toward liquidation of real estate assets and full payment to the creditors, as it was to pin down Padrick to what he had been doing the past month in behalf of this endeavor.

The CRO and the owners were at this time, in their minds, still all working with each other toward this end- including Padrick under the CRO's charge- all the parties, as evidenced by the video, were still on the same team. In other words, no body by making this video was implicitly trying to trap nobody.

It was Padrick's defensive demeanor during that meeting that first gave an indication to the CRO and Summit's owners of his newly revealed disposition as not being in concert with their plans to execute this bankruptcy and pay off the creditors.

Later, when the totality of Padrick's subterfuge and ultimate ambition toward gaining the lucrative Trustee position was revealed to the CRO and Summit's owners, then was the negative impact of his behavior to them understood.

They felt (and still do) that Padrick purposely crashed this business, a business that with his cooperation could have been crash landed instead.

A scenario where all exchanger/creditors would have been paid already.

It was, in retrospect, a few weeks after this meeting, that an animosity toward Padrick did arise. Where upon the video, made of that critical meeting, was reviewed in a completely different light.

From my vantage point, absent the eventual revelation of facts in this story, the video could just as well have been made into a marketing tool for Padrick and Obsidian Finance.

To an initiate of this story, like I once was, where Kevin allows himself to speak, the words sound convincing; as one puts the pieces together over time, a discovery is made; those sentiments are constructed on a ruse, his premises are fabricated to support an argument he doesn't and perhaps can't really believe in, and from the actions he has taken since in regard to ridiculously accusing Umpqua Bank for improprieties in its business dealings with Summit, one has to suppose that he was not completely honest with the creditors in their meetings either.

The facts and the truth they represent, is for Padrick in his unscrupulous ascendancy to the role of Trustee in this case, a big problem. Discovering these facts with a need to reconstruct the truth, for the rest of us, is what makes this video so important to this story."

Frank Israel

In the other bankruptcy corruption cases, the money was all gone by the time anyone had evidence to prove the looting had occurred.

As a CPA, I find it absurd that this bankruptcy system has absolutely no accountability built into it. They simply name a trustee and give him or her all the power to loot for many years and tell the creditors and the debtors that it is in everyones best interests' to give up transparency and accountability so that the court can make this move quickly so the creditors get paid back.

You are probably assumming that I just have some sort of vendetta. Well I don't.

I just don't like it when someone says they are working in the best interests' of the creditors, but their actions show otherwise. Pretty simple right!

You promise to take care of my creditors, then your actions should support this. Don't you all feel deceived when someone says they are going to help you and then they kill you?

It goes a step further, they don't service their clients in an accountable fashion. When you listen to the audio, look to yourself and see what you see. What if you were the 200 exchangers that have NO VOICE?

What if you were the debtors who were looking for help to pay creditors back and instead got Kevin Padrick? This is a problem that is much much bigger than this little story here.

There are many United States Citizens who are suffering from the aftermath of these asset rich bankruptcies. That is the Bigger Issue.

For our Nation to ignore this we are lying to ourselves about the ability for our Government to protect our money and our rights. I think it is more focused on their inability to protect our money and our rights.

How many creditors have even been contacted by Obsidian or Kevin Padrick?

How much information have you been given on this case?

In The 1031 Tax Group, LLC bankruptcy case, the Trustee sends out newsletters and lots of other information to this bankruptcy estate's creditors...

See for yourself and go to
http://trustee1031taxgroup.com/

Why doesn't the Summit 1031 bankruptcy trustee have to do the same?

Why aren't they required to be this transparent?

Why are the creditors sitting out there with relatively NO INFORMATION?

In fact, this Summit Blog, www.Summit1031BkJustices.com has more information than any given by Kevin Padrick to date.

Then we have Andrew Moore of the Bend Bulletin writing very heavily weighted articles in Kevin Padrick's favor. Wonder why?

Andrew Moore points out loans being made (this information coming straight from Kevin Padrick). Andrew Moore doesn't write that these loans have been paid off....Oh and the estate got approx 800K from the sale of his highland house.

BUT THANKS Andrew Moore for mentioning the Summit 1031 Blog...117 pages were pulled on Valentine's day. Record for a Sunday!

In a letter by Neuman written either late August or early September 2009 posted at http://www.summit1031bkjustice.com/ — a Web site operated by Neuman's daughter, Stephanie Studebaker-DeYoung — Neuman wrote that “I'm truly sorry for the pain it has caused all of the exchangers. I can only sincerely hope and pray that the assets we provided and any other monies available will result in the exchangers being made whole.”

I have to give you credit Andrew Moore for ending the article with the TRUTH...

"Bend resident Jack Robson, a creditor who initially lost roughly $50,000, says he thinks the return would be greater if there weren't so many attorneys involved. But he's not upset with Summit, he said."

“At the end of day, some people have lost a good portion of their retirement, and that sucks, but there is no malice involved in my experience,” Robson said. “They made poor decisions, and certainly who would have thought this would have been a possible outcome?”"

A ton has happened since my last post which I will share with you now. However, I think we need to first pay attention to the timeline and sequence of events...

1/1/08 - Summit 1031 held approximately $100 Million in exchanger funds. Of this $100 Million, approximately $73 Million was in Cash and $27 Million was in the form of Short-Term loans to various LLC's holding real property.

These LLC's had many investors (106 to be exact). Andrew Moore from the Bend Bulletin repeately says they had 100 or so LLC's. Well you would think an investigative reporter would get the real numbers right? Can't blame poor Andrew, he is influenced by the power and money of Kevin Padrick, so he reports what Kevin Padrick wants the people to hear.

There were only 30 or so LLCs holding real property that Summit Principals had an interest in. The other LLC's they keep referring to were set up to do reverse exchanges.

The Summit Principals had ownership interest in these LLC's only as Qualified Intermediaries. Meaning these LLCs held exchanger properties only. A separate LLC is set up for each reverse exchange.

So we are really only talking about 30 LLC's. All these LLCs had multiple members. The LLC's were liable for the short-term loans from Inland and understood there were responsible for interest and payoffs. Many of the loans Andrew Moore Mentioned in his most recent reporting were all paid back with interest.

Why doesn't Mr. Andrew Moore report this? Well Kevin Padrick wants the public to think these monies went out and never came back in...then you will stay mad at the Summit Principals.

DID YOU KNOW KEVIN PADRICK WAS,
EFFECTIVELY, HIRED BY SUMMIT PRINCIPALS
PRIOR TO SUMMITS FILING
CHAPTER 11 BANKRUPTCY
ON 12/18/08?????

Around 12/7/08 - Kevin Padrick meets with Summit Principals - Well yes they did.

You see Kevin Padrick met with the Summit principals in early December 2008. By talking with the Summit Principals about this meeting, it looks like Kevin was more than willing to help them with their liquidity crisis.

Kevin Padrick said his company, Obsidian Finance Group, LLC, was the best at helping save distressed businesses like Summit Accommodators, Inc. Good news right?

Kevin Padrick said he had partners with DEEP POCKETS who would help fund the short-term liquidity issues. At this meeting, Summit Principals explained the business of short-term lending, told Kevin Padrick about the properties they were willing to hand over and about the $14 Million of cash that was in the Summit bank account. At no time during this meeting did Kevin Padrick even mention the words fraud, ponzi scheme, embezzlement, or illegal.

After this meeting with Kevin Padrick, the Summit Principals approached Summit 1031's bankrupcty attorneys, Sussman Shank, with the posibility of contracting with Obsidian Finance since they seem to be the best has helping distressed businesses.

Sussman Shank agreed that it would be a good idea to contract with Kevin Padrick and his company. However, the contract should be signed after a Chief Restructuring Officer is put into place (after they filed bankrupcty)

12/18/08 Summit 1031 filed for Chapter 11 bankruptcy - DIP "debtor in possession" reorganization. In this type of bankruptcy a Chief Restructuring Officer is named and he is the "acting boss" of the reorganization to payback the exchangers.

It wasn't until the bankruptcy was filed and Terry Vance was named CRO, that the official contract to hire Obsidian Finance Group, LLC was signed by Terry Vance and Kevin Padrick.

"Click Here to See Contract Between Obsidian Finance Group & Summit 1031"

The Summit Principals chose a Chapter 11 Bankruptcy because they thought this was they way their creditors would get paid back quickly according to their attorneys and according to the financial consultants at Obsidian Finance Group.

12/19/08 - end of December 2008 - Summit Principals gathered all the information and willingly gave it to there supposed saviors, Obsidian Finance Group. Ewan Rose, said thanks, we will get you our proposal within the week. No proposal was ever delivered.

Early February - Kevin Padrick makes a presentation to the Creditors' Committee. What? Thought they were supposed to be getting the proposal to the debtors NOT the creditors??? Jeez this stuff is so confusing.

2/11/09 - Summit 1031 Bankruptcy Hearing where Creditors' Committee is pushing to replace Terry Vance as CRO with Kevin Padrick as CRO. Lucky for Kevin Padrick, at this hearing Judge Randall Dunn 's idea to resolve the matter at hand is to appoint a liquidating trustee.

It wasn't until yesterday that I received the legal document from The 1031 Tax Group, LLC case that says, "The appointment of a chapter 11 trustee is an extraordinary measure". After going back and listening to the audio from this hearing, it seems to me that this appointment of a chapter 11 trustee was originally presented by Judge Randall Dunn.

DON'T Miss Clicking Here for the Audio - Click Here for Judge Randall Dunn Abruptly decides to Appoint a Trustee

Kevin Padrick has stated in his declaration under penalty and perjury that Doc 551 "8. Ms Studebaker-DeYoung has also posted on her website what appears to be an audio recording that she made during an official court hearing proceeding, in violation of Court local rules"

"Click here to find out directly from the US Clerks office that I did properly order this audio"

From Transcript:

"Judge Dunn - Let's talk about the joint motion of the debtor and the official committe of unsecured creditors to substitute Obsidian Finance Group LLC for Mr. Vance as Chief Restructuring Officer and I have a limited objection from the US Trustee, requesting some additional time to see if this is the proper road or whether I ought to be appointing a chapter 11 trustee and I have a middle ground suggestion for the parties consideration and we may not get there today...WHY DON'T WE APPOINT OBSIDIAN AS TRUSTEE????

Ms. Vivienne Popperl (attorney for US Trustee) - Sorry your honor but that is a decision for our office to make.

Judge Dunn - I understand that so I am throwing it out as something that you should consider.
Ms. Vivienne Popperl - We will certainly consider that, but at this time we're very concerned about who is really directing this case. At the moment it appears to be the professionals.

Judge Dunn - It doesn't appear that way, there's no question the professionals are directing this case. There's no one else in the driver's seat.

Ms. Vivienne Popperl - Which is why we need a trustee and that is why we request a little extra time to get a motion and appropriate memorandum before the Court and we certainly will consider Obsidian, but we will consider other canidates as well.

Judge Dunn - Well, well, that's fine, but I'm not sure I need additional memorandum. I think that needs to be discussed with debtor's counsel and Obsidian and the committee and see where we come out. I understand why you would move for appointment under section is it 1112, whatever section and I'll ??? with that. But I think the parties should talk and do what makes sense here, but certainly if the creditors' committee has evaluated Obsidian's work to date and their potential for future work...that's going to weigh strongly in the Courts consideration in terms of the interests' of creditors and I do agree that we need someone clearly in control of the ship of state?? that is functioning in effect as a trustee would so in the absence of further direction I really would like to see Obsidian named as chapter 11 trustee, but I leave that for the parties to argue out.

Ms. Vivienne Popperl - Well then would the Court entertain an oral motion directing the US Trustee to appoint a chapter 11 trustee or do we need to file a written motion?

Judge Dunn - Well I want to here from the parties and their respective positions on that, but I don't want to trample on the US Trustee's office perogatives either so if you would be offended by such an order based on an oral motion, I'm not going to do it, but I just am suggesting that it makes sense to consider it. Mr. Padrick's here...Is Obsidian oppossed to serving in the position officially as chapter 11 trustee.

Kevin Padrick - No Your Honor subject to the parties desires.

Judge Dunn - Right so that's something I want the parties to talk about and consider because frankly at least my review of the situation with respect to the case as to what's going on...having Obsidian functioning officially in the position of chapter 11 trustee solves a multitude of problems, but what do I know?"

Steve Hedburg (Lead Attorney at Perkins Coie and worked under Kevin Padrick at Miller Nash back in the day) - Steve Hedberg seems up to help out with the appointment of Obsdian no matter what other's concerns are due to the vote on the creditor's committee. This committee is only made up of about 5% of the creditors. Did the group of creditors understand the ramifications of converting to a liquidating trust? Steve Hedberg rambles on about how creditors are voting for Obsidian no matter what guidelines are followed Obsdian will be trustee.

I can't even spend the energy typing the rest of this now. BUT I did run into another interesting tidbit of discussion between Ms Vivienne Popperl and Judge Dunn...

Cont. Transcript...

"Ms Vivienne Popperl - Your Honor I’d just like to bring to the courts attention that the Court had been granted an oral motion. I want to make sure that the Court feels comfortable having done it with no notice because 1104(a) does say that a request of a party in interest or the United States trustee, and after notice and a hearing, the court shall appoint a trustee - WELL THAT DIDN'T HAPPEN NOW Did it?

They act as if they are following the procedures, but they willy nilly throw them out the door when they don't fit their agenda. Is this whate they mean by Highest Fiduciary Duty.

DON'T Miss Clicking Here for the Audio - Click Here for Judge Randall Dunn Abruptly decides to Appoint a Trustee

Here Ms. Vivienne Popperal is referring to Title 11 U.S.C US Bankrupcty Code Section 1014 (a)

§ 1104. Appointment of trustee or examiner

(a) At any time after the commencement of the case but before confirmation of a plan, on request of a party in interest or the United States trustee, and after notice and a hearing, the court shall order the appointment of a trustee—

(1) for cause, including fraud, dishonesty, incompetence, or gross mismanagement of the affairs of the debtor by current management, either before or after the commencement of the case, or similar cause, but not including the number of holders of securities of the debtor or the amount of assets or liabilities of the debtor; (didn't apply to Summit, unless they are talking about Sussman Shank and Obsidian Finance??)

(2) if such appointment is in the interests of creditors, any equity security holders, and other interests of the estate, without regard to the number of holders of securities of the debtor or the amount of assets or liabilities of the debtor; or (this is very arguable)

(3) if grounds exist to convert or dismiss the case under section 1112, but the court determines that the appointment of a trustee or an examiner is in the best interests of creditors and the estate. (doesn't look like it applies to Summit)

Please See Attached. It also says "The appointment of a chapter 11 trustee is an extraordinary measure" and the it "should be the exception, rather than the rule". "The decision to appoint a chapter 11 trustee is a factual determination entrusted to the discretion of the bankruptcy judge".

I bet the US Department of Justice knows
this proceeding did not follow the legal procedures.

After listening to this circle of players go on and on about replacing the Chief Restructuring Officer, Terry Vance, with Obsidian as Trustee. Seems everyone is in agreement right? Only Brian Steven's attorney, Foraker seems to be mind boggled by the happenstance of this hearing.

Who was representing the Debtor? Who was representing the 200 creditors?

They decided this in a matter of moments and they seemed to all really like the idea. Why follow any procedures? Who cares about who is doing the job? Who cares about anybody? Seems like they are havin a good time entertaining themselves with how do you get Obsidian in Control of the Estate and the Assets???? For my common sense brain this is So Confusing.

In Sharon Steel Corp "the standard gives the.... court discretion to appoint a trustee when doing so would serve the parties' and estate's interests". In Ionosphere Clubs, Inc. the standard for appointment of a trustee should be...... "facilitation of a reorganizatoin that will benefit both the creditors and the debtors".

Courts have considered several factors including "the benefits derived by the appointment of a trustee, balanced against the cost of appointment".

It seems to me this was a rather rash decision and it was happening no matter what happened at this hearing. What are your thoughts?

Did you think that was it??? No there is more...

As you can hear for yourselves, the Judge says we can have this presentation...

I worked out the schedule with Kevin Padrick & the Summit Principals to hold the Presentation at the Summit Bend Office at 10:00AM on 2/12/09. Kevin Padrick was an hour late to the presentation. There was much discussed about the bankruptcy proceedings during this hour of waiting amoungs some other fun chatter. I forgot I had the camera on the webcam for the duration of Kevin Padrick's tardiness.

There is no way I could have scripted the discussions and events that occurred. I like that it is an accurate representation of what what going on at that point in time and how there was a HUGE disconnect between what Terry Vance and the Summit Principals knew and what the Portland courtroom was basing motions and orders on.

Why weren't Terry Vance and Summit Principals able to have their own say about appointing a Chapter 11 Trustee. Susan Ford did not represent Terry Vance, she just spoke for him.

Also why is there not a conflict of interests for the Debtor's Attorney, Sussman Shank, to serve as counsel for the Liquidating Trustee, Kevin Padrick??? Seems a slight conflict, but what do I know.

The Hearing was on 02/11/09.
We had the presentation on 02/12/09.

The night of 2/11/09 I researched on the internet about this type of situation where I ran across the recording of court authorized meetings that were semi-public (Since Judge Dunn said all interested Parties would be interested in this presentation and from this, I believed I was able to come that it was a semi-public meeting. You can record a semi-public meeting if the camera equipment was not concealed. I did not conceal the camera equipment.

Kevin Padrick reported by so-called "illegal recording" to the Bend Police department in July 2009, just after he noticed it was on the Summit Blog. After some investigation and checking with my attorney we found out the investigation was going nowhere.

On January 5, 2010 I received notice that I was being charged with 2 misdemeanors of "illegal communication" related to the recording and the divulging of this recording.

Besides the fact that the investigation is stale, there are a few issues that seem fishy regarding why the DA incorrectly filed this claim.

A. The officer thought I told him, in July 2009, that I set up the recording computer in the "middle of the conference table". The officer apparantly next, thinks he found an inconsistency because he said it was readily apparrent that I set up the device on the "back counter behind the Summit Principals."

I think the officer erred twice here.

1. The device was facing Obsidian (the three people who are complaining (Kevin Padrick, Ewan Rose, & Ryan Norwood) - thus it was unconcealed, even by the officer's standard.

2. The officer did not follow me (comprehend me (understand the importance of what I was saying)) when he interviewed me 4 months after the recording, in that he did not correctly quote me where I told him how the computer was set up. My own package of evidence should have jogged his memory.

B. Padrick, Rose, and Norwood were the only individuals interviewed by the officer besides me.

It seems that an unbiased officer (or rather an officer that was not being harangued by some powerful attorneys) would have interviewed Terry Vance and the other people who saw where I set up the computer.

It looks like the first Deschutes County Deputy, likely contacted by Obsidian Finance, probably closed his investigation without criminal finding against me. Obsidian next pushed the Bend Police officer to follow up over 5 months after Padrick's initial complaint.

Next, the officer passed the buck (not a common practice) to the District Attorney's office without a citing or closing the case.

Next, because the District Attorney's office (who also probably initially declined the case) to follow up. In other words, in all likelihood, at every step of the process, Obsidian had to resurrect the case, that otherwise would have remained close, by pressing things.

Don't pass up clicking the links below
they tell the rest of the story.

Part 1
http://www.megavideo.com/?v=F6Y3A7FZ

Part 2
http://www.megavideo.com/?v=QN1DNBUL

Transcription

Part one:

Tim: The big thing is that you get the sound not so much the picture.

Stephanie: Ok, and so is it.

Brian: Is Kevin not coming here?

Tim: No, he’s coming here.

Stephanie: He’s just running late.

Tim: Ewan and Ryan are here already.

Stephanie: Here. Jan. Jan.

Stephanie gives the camera to Jan.

Brian: My attorney, two days ago, said it is a done deal. Obsidian is going to be - and start working on a relationship here. I was like; I mean what a change yesterday.

Tim: They made that change.

Mark: Well, I kind of got a little bit of the same thing…yah know. I just said, I am not in favor of these guys, I don’t trust them. I don’t trust them a bit. They are expensive as hell. They haven’t shown us one thing and he’s (Bankruptcy Attorney) kind of giving me the, “O.K, well I could say that”, yah know, “Are you sure you want me to say that?” (Mark to the attorney). You guys are screwing us anyway on everything, so whatever.

Stephanie: But the main thing is that the Judge can decide, right? So he (Judge Dunn) has the ear of the committee right now and the committee wants these guys (Obsidian), so unless there’s some good reason why…

Tim: Yeah, and we just need to be very objective in our analysis of it and...

Stephanie: Yes, we can’t be. Yah know…it’s just gotta be…here’s the deal and look at this in the business way of why it will not work or why it would work.

Mark: I think unless they got something…I don’t know what they could have.

Stephanie: But the $100,000 is considered a retainer that you guys paid so it’s not gone and it would go towards whatever or it would be refunded. I asked the Judge!

Brian: Well most of it’s gone.

Mark: Most of it’s gone.

Stephanie: Most of it’s gone already?

Mark: Yah, they’re going to get paid. They’ve already agreed.

Brian: It’s was like $60, probably like $80 now.

Tim: Oh, do you know that?

Brian: I heard them say $60 and after this hearing, this meeting here and you’ve got three guys here, yah know

Mark: Yah, that thing is not going away.

Jan: Well is it like anything else? Upfront they say what all this is going to cost so that at the end you’re not going, ok that’s the bill? Where is it that you can…?

Mark: They need to do a budget. How do you do it without a budget?

Jan: …say give us an estimate?

Stephanie: The thing is so...Vivienne is going to…I need to contact Vivienne with our concerns and what things we have today ASAP so that is our only focus – K?

Mark: Do you have Obsidian’s agreement? I meant to grab it…

Brian: I bet you I do?

Brian leaves the room

Tim: I have it. Just one copy of it, but.

Mark: That’s ok; I just need it for…

Stephanie walks around the table.

Tim: I mean this is all we have is kind of this outline…it’s very little detail.

Mark: No, no, no their…Oh, oh yah, yah…that’s what I want.

Jan: Brian’s got something he is holding...

Brian comes in

Stephanie: This has a camera on it. You need to leave this and tell them not to mind this. I already asked Terry and he said fine, bring it in.

Jan: OK

Mark: Is it really pointed in the right direction.

Jan: So this is taping now?

Stephanie: Yah, it’s taping now.

Brian to Tim: You know what I don’t like about this agreement…was just this one paragraph here about. That they are supposed to be engaged by the company and giving us…

Stephanie: Brian can you sit over there?

Brian: Do I get to be on TV that way?

Stephanie: No, do you want to be on TV?

Brian: No.

Jan: We want them to be on?

Stephanie: Yes.

Jan: Ok. Steph, do you want to sit here and I can sit?

Stephanie: No.

Mark: Make sure Lane sits there.

Brian Leaves

Jan: Tim’s very calming.

Stephanie: Yah, I know.

Tim. But yah know, when I am on the edge, when I flip over, I’m not pretty.

Laugh

Tim: Mark’s probably seen me a couple oft times, but yah know, I can go on a rant pretty easy.

Mark: I don’t mind it if it’s not directed at me. When it’s directed at me, I don’t really like it that much.

Laugh – Stephanie Leaves

Mark: This is the paragraph that concerns the hell out of me.

“It is not one of OFG’s right to be paid from the Summit Estate for all matters not directly related to the assets such as general services, tax related services, including claims mitigation and claims and distribution calculations.

Further, all services not directly related to the collection of the assets such as providing testimony, responding to subpoenas and other forms of discovery participating at the request of the advisory committee and any other groups and sub-groups of creditors in identification of third-party claims shall be OFG’s standard.”

Terry Vance Comes In

Mark: And my question is - What’s the budget there? You must have estimated what this is going to be.

Jan: Yeah get the number, what’s it gonna cost?

Mark: That could be a huge number, but I am still saying, just by landing this job at 15%, doing nothing but listing all this with realtors. If you say the cash proceeds are $10 Million, it’s almost $1 Million bucks for doing nothing. They don’t have to do anything. It’s already whatever it’s worth. It’s built in. Just for accepting the offers. Terry, if I’m in jail on August 14th, are you going to call and wish me a happy birthday?

Terry Laughs

Mark: You should.

Terry: Send you the proverbial cake?

Mark: Yah

Stephanie: So, do you think you could attend?

Terry: I can do anything I want

Stephanie: I want to know if you want to attend.

Terry: Well, it’s going to be interesting.

Stephanie: I think it would be beneficial if you attended.

Mark: I think it keeps it real honest.

Terry: That’s an impossibility!

Mark: Laugh, ok…

Terry: Maybe it will improve my perspective.

Jan: Do you think somebody needs to be writing anything?

Stephanie: I am. I’m typing.

Mark: I am too.

Terry: Do you got it on now?

Stephanie: Yah.

Terry: So you’re just recording it right?

Mark: You being here it just helps with accountability.

Jan: Enough people are here listening.

Mark: Is Kate (Brian’s daughter) coming? Did they invite Kate?

Kate Enters

Stephanie: She is trying to find me.

Kate: Oh, there you are.

Kate gives Stephanie Coffee

Stephanie: Thank you.

Jan Leaves

Terry: Who are we waiting for?

Tim: Kevin, I think?

Stephanie: Kevin. He said he was caught in Sunriver due to the snow.

Mark: Apparently, he is not very experienced in snow.

Stephanie: Or maybe...he might have been driving back this morning. I couldn’t tell.

Terry: He doesn’t drive, I don’t think.

Stephanie: He doesn’t?

Tim: He flies.

Terry: He flies.

Stephanie: Oh, maybe he was flying back this morning.

Mark: Maybe, there’s fog down there.

Tim: Quite often.

Mark: That could be. Seriously!

Stephanie: He said 10. Oh it’s 10.

Mark: Well you guys…do you just feel like nothing is true in life after Arod? Can’t trust anybody!
Jan Enters

Tim: Baseball, its.

Mark: Miguel Tahatta pleads guilty to lying about his teammate using steroids.

Tim: I think America’s pass time needs to become Lacrosse

Terry: Yep.

Tim: Much premier sport.

Terry: Yep.

Jan: And the Phelps thing just makes me so mad.

Tim: Baseball has effectively de-throned themselves as America’s pastime.

Terry: They sure as hell have, haven’t they? They’ve pretty well killed themselves.

Mark: But you know.

Terry: Any I thought Selig comments were really stupid.

Tim: I never thought him to be much of a leader.

Mark: Who Selig. Yah, he sure gets paid a lot of money for leaving an all star game in a tie.

Terry: No kidding.

Mark: You can’t do that. Yah, you know….I don’t know. You gotta just go we’re cleaning this up. You gotta take that error and just go we can’t count this error or anybody…

Terry: Who the hell cares? I mean realistically. How do you know Babe Ruth wasn’t on something rather than just the bottle?

Tim: Cigars and bottle.

Laugh

Terry: Exactly.

Tim: Because they didn’t have synthetic steroids then.

Mark: I don’t think I’d care if it didn’t make such a significant difference in their performance. I mean all of a sudden, these guys are hitting 70 or whatever home runs a year and stuff.

Jan: Laughs

Mark: You can take these guys and look at them and go Ok this isn’t right.

Terry: Who’s that character from the Denver, Broncos? Oh a Romanosky…Jesus…I mean he was one of the first, I think?

Tim: Was he?

Mark: I think all the Steelers were and they’re all dead. That’s what you get.

Brian and Stephanie Enter

Tim: Don’t leave the Raiders out of that discussion.

Mark: No, no.

Stephanie: He’s running another 10-15 minutes late.

Stephanie picks up the laptop and is working on it

Mark: You know what they are doing today…this is just mind boggling. The South Carolina detectives…they’ve arrested 8 people.

Jan to Stephanie: So this thing has a camera on it…oh yah…there we are.

Part Two

Stephanie sets camera up on back counter and situates it.

Mark to Stephanie: So you think…I mean Vivienne is a pain in the ass!

Stephanie: I think she’s OK. I mean she came and searched me out.

Mark: But, but Vivienne…whispering…

Stephanie: The only thing I am concerned about is that it is taking so much time already.

Mark: It’s taking so much time. I am going to put that back on Susan (Susan Ford of Sussman Shank). I mean it’s like you haven’t even set up a Conduit for us to transfer assets. In fact, you said no.

Terry: Well part of the reason for that was to make sure there was some stipulation or agreement by the creditors’ committee. That they weren’t just going to start attaching everything. That’s all part of the 105 Injunction.

Mark: So was there any talk yesterday about the whole Tennant thing.

Terry: That’s where the biggest problem is in terms of blocking this whole mess. As far as I’m concerned it came right out of the creditors’ committee, of which, Obsidian has been totally responding to the creditors’ committee.

Mark: Right.

Stephanie: Right, but the Judge seemed to say that unless you guys…basically the creditors’ committee convinced that Obsidian will do the job they say they are going to do and they’ve given them a presentation and they had a vote.

Mark: I talked to one of them…well I didn’t but that one (creditor – Rolland Andrews) – Scott (Scott Adams) said he was going “At that presentation they gave us some bull shit. They are expensive as hell. I don’t even understand what all these people want.” He’s on the creditors’ committee and he sees it.

Stephanie: So anyhow, we have to figure out a way to get this (whole mess) into the right hands if we can.

Jan: Seems like the person or the party who’s spent the most time actually hands on knows the most and should be…

Stephanie: And Susan did agree with…I said that Terry has a working knowledge. He’s been working there (Summit) day in and day out trying to find out what’s going on here.

Jan: I mean that’s a slam dunk. He knows more…

Stephanie: She (Susan Ford) reiterated the same thing and no one seemed to have a problem except this Tennant group because they can’t get what they want

Terry: Exactly.

Stephanie: So now they want to just appoint a Trustee so that they can just to get things going.
Terry: You know it would have been a long time ago if they would have just gotten out of the way.

Mark: How come no one brings this up at the hearings?

Terry: I don’t understand that.

Mark: Why do we have attorneys who sit there and can’t even bring it up as an issue?

Jan: It makes you feel like you should be present at all of this stuff if it’s in Portland.

Stephanie: Well that’s why I think…I don’t know…be there because when I went there the attorneys did bare minimum for you guys.

Tim: How long was the hearing, yesterday?

Stephanie: An hour and…

Terry: Did they even address the injunction?

Stephanie: K what’s what’s…No. I don’t think so.

Terry: The original reason for that meeting or the hearing yesterday was to rule on the injunction…

Tim: To extend it.

Terry: Well extend the TRO and figure out whether…

Stephanie: They did it. They did do an extension of the TRO. Then the talked…the only things that they had on there was that and whether to get you (Terry) out and Obsidian in.

Terry: Well I guess the extension was the TRO. I’m not sure of the injunction.

Mark: You know Bob (Bob Vanden Bos - Mark’s bankruptcy attorney) calls me up yesterday and says, “Well I need to know if you agree to extend the injunction or not. What do you want me to do?” Do I have a choice Bob? “Well if you say no, they’ll just do this and that.” Why are you wasting your time calling me and asking me anything?

Tim: He has to sign it.

Mark: I know it’s just a ridiculous conversation we’re having right now. I get tired of you asking me all this shit that I don’t have a choice on.

Stephanie: Well so anyhow he gave me something to sign that would give me power of attorney to do whatever

Tim: Who, Bob Vanden Bos?

Mark: Well I’m not sure that’s a good thing.

Laugh

Terry to Mark: You gave her power of attorney?

Tim: Now we have a whole different worry.

Laugh

Stephanie: He’s all – “Are you sure you want this job?” I said, well I don’t know.

Tim: I got a whole new worry now.

Stephanie: Whatever.

Mark: Yah at the next hearing we’ll have the Santa Rosa police there going “Let me tell you about this one.”

Stephanie: Hey, if I wouldn’t have gone there yesterday this would have gone through the Trustee (US Trustee) quick and you guys have no say.

Jan: And what’s it looking like to them when nobody is there to…I mean does it look like…well I guess they don’t care and their not.

Tim: Why can’t we get better advice from our attorneys?

Jan: It’s frustrating that way.

Mark: I mean we pay them a lot of money and…

Stephanie: When Bob called me back after I told him why I need to be there (at the hearing) and he said “OK” and he got off the phone and he talked to Summit’s bankruptcy attorneys and they said “It wouldn’t be a good idea she comes…they are going to choose Obsidian anyway. There’s just no way.” I said you know I have been told…

Mark: Susan is such a…she can be pushed around.

Stephanie: It was the guy attorney.

Tim: Oh, Tom (Tom Stilley)

Mark: Tom

Stephanie: I said - Ok I have been told several times by attorneys what will and will not happen and I don’t believe that they always know and so I am going to go down there and
I want to at least be there present so that if there is a chance and something happens, great, but if nothing happens then I don’t lose anything.

Jan: You have to try.

Mark: I think there is a pattern of what they tell you is going to take place…they’re wrong every time so why do we…

Tim: They’re guessing and they control things in a controlling environment.

Stephanie: My experience is with attorneys is they always tell you what is bad that is going to happen and sometimes it does and sometimes it doesn’t.

Terry: Do you have considerable experience?

Mark: Yah, there you go Terry. Good question.

Stephanie: That’s why I’m not scared to go over there.

Tim: Terry, don’t go there.

Laugh

Mark: You don’t want it to get dark.

Laugh

Tim: You know I did this stuff with the trucking company that filed bankruptcy, we used Barry at Sussman Shank and he said, “I understand there wasn’t a criminal aspect and I understand there wasn’t the amount of money”

Mark: Well let’s bring Barry back.

Tim: He said “You go and you explain openly to everybody where you’re at and what you’re trying to do and that you’re doing the best that you can. If anyone has questions for your attorney, have them call me.” I think my retainer for their services was $5,000 and he gave me $250 back when it was all done. Granted it wasn’t the scope of all this, but it’s…what diffused a lot of people was me saying look I’m not running away, I’m doing everything I can to take care of this problem and you know you can fight it but al it’s going to do is throw us in bankruptcy. Well, of course, we are already in bankruptcy but it seems to me like that face and saying…

Mark: Nobody knows that we’re not running away.

Terry: And because the Judge quoted directly from my affidavit at the previous hearing regarding…then and he asked both the creditors’ committee and Susan and Tom, “Why the hell we can’t get something done. It says right here…Mr. Vance said right here that the debtor…all of the principals are cooperating to the best of their ability and they’re willing to make every effort.”

Stephanie: And they reiterated that yesterday too.

Mark: But that’s who they aught to be asking…Susan…because I just don’t believe she takes charge of this. She gets moved around by everybody and I even saw it that day with Vivienne where she just buckles.

Stephanie: She did do an OK job presenting and she validated the points I had brought up as far as you (Terry) and the work you’ve done. She reiterated it with the Judge. She kind of supported me up there when I wasn’t yah know but…I don’t know. I don’t know what their job is exactly to do.

Mark: Their job is just to get paid.

Tim: I think that’s another reason why we have to be there, if not for ourselves, it also holds her accountable, but it also gives her something to support instead of just going with whatever direction things seem to be going.

Mark: I think you’re right. I think it holds her accountable while we’re there.

Stephanie: And the Judge seemed to want to get this resolved quickly. Like sooner than this date..they set a court date for the 20th…Umm…

Mark: It’s the end of the extension of the TRO.

Stephanie: Right, but he wants to figure out the trustee deal prior to that except for Wednesday.

Terry: Except for Wednesday?

Stephanie: He’s gone Wednesday or something.

Mark: You know one of my biggest fears is that…like in these LLC’s…that all of our partners who are innocent parties to this whole thing just get run over. That’s just a huge concern to me.

Terry: Run over by?

Mark: By whoever the Trustee is…they just go into these LLC’s and they want you to just sign your rights over and then we get control and we do whatever we want. I just want someone with the best results…

Terry: Well isn’t that defined in the operating agreement, though?

Stephanie: It is.

Mark: Well yah but my attorney is going…well no you know there’s operating agreements…I pointed out…

Stephanie: But their going to get in default.

Mark: I pointed out that like on Smith Brothers…if I assign it, I don’t have any ownership. I want to ask Kevin specifically about Smith Brothers…I’m going to ask him about Century Drive Mobile Home Park…If he knows that if we assign our interests’ that it immediately puts them in default.

Stephanie: I asked him about that and he kind of pushed it aside, but said that “There are ways to deal with that.” So I want to know exactly what ways you say there are to deal with that because he says, “The seller doesn’t always get the property.” How do they not when you’re in default?

Mark: When I look at Century Drive Mobile Home Park…it’s like ok…put it on the market…can we get anything for it? Why are you putting it at risk if we’re cooperating…just leave it where it’s at…let’s see if we can sell it for an amount to get some money to the creditors.

Tim: And preserves the interests’ of our partners.

Mark: Right, right.

Kevin Enters

Kevin: Hi gentleman and ladies.

Stephanie: Hi. Come on in. Those are your seats. I will get the rest of the men. Ran into ice and fog?

Kevin: Yes.

Stephanie: That’s always a challenge.

Kevin: I had to get the plane out of Aurora. Umm. Ok so who are we meeting with?

Tim: Well I think the four principals will be here and this is Jan Neuman, Mark’s wife.

Jan: Mark’s wife.

Kevin: OK.

Tim: And then Stephanie Studebaker, Mark’s daughter, who was at the hearing yesterday and spoke on our behalf I guess.

Kevin: K.

Long Pause

Kevin: Terry do you have a minute?

Terry: Yep!

Kevin Exits with Terry

Long Pause- Stephanie Enters

Stephanie: Brian’s missing in action. (Laugh) I don’t know where he is.

Tim: He needs to come in and this meeting needs to get started.

Mark: He’s hard to track.

Jan: He was just in his office with Kate just a minute ago.

Stephanie Exits

Mark: He was lost in an airport for over two hours.

Ewan: You know one of our, both of our principals have the same issues.

Ryan: They are not the easiest guys to find.

Mark: That’s one of my best stories. I gave up looking for him so I went to the bathroom. All of a sudden I heard a cell phone ring and he answers it in the stall next to me.

Laugh

Long Wait and Chatter

Stephanie, Kevin, and Terry Enter

Stephanie: So we have to organize the meeting…in order to have Terry here right now we have to organize this meeting into two parts…One part is an interview…

Stephanie: And we can have Terry here in on that…

Kevin: No, No…for neither or those parts. I just got done saying that…for neither of those parts. If you want to ask questions about what we’re doing in the case, I’m happy to have that with everybody.

Stephanie: Ok. That’s what we’re doing first.

Kevin: If you have a question about that, but if you want to do an interview or have a presentation. I want to do that separately.

Stephanie: Ok. So that part we’ll do second. The first will be whatever you just said we could do with Terry.

Kevin: If you have questions about what we’re doing in the case, I’m happy to answer them.

Stephanie closes door

Stephanie: Ok, who wants to start with questions about the case?

Posted by
Stephanie DeYoung
Bankruptcy Whistleblower
Investigative Blogger

The True Story of the Bilderberg Group

2009-12-21T16:15:00.000-08:00

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MLS Data is Your Data - It DOES not Belong to the Realtors

2009-11-03T11:39:00.001-08:00

It is your Money, your blood sweat and tears, your Equity, your life and it is your SOLD price, your Loan, your Job that created MLS Data yet the Association of Realtors is allowed to Call it their own. Why?

You should be able to see this Data anytime you like. The Realtors, others wise known as the Real Estate Cartel, they should not be able to KEEP your data their secret coveted investment. NAR uses your data to lure new members, and banks and appraisers can join too, it is a fee based service and you created the content but get NO COMPENSATION. Realtors Get Commission, NAR gets dues, benefits and funds from Special Interest Groups and Affiliations, money from accreditation's - books - ads - all kinds of corporate connections and businesses and they use your data, your home photos, information, words, area information as content, as information for the MLS, as website information and something interesting to look at... NAR makes Billions from using your SOLD information over and over again, as well as your expired listings, withdrawn listings, your photos... all of this is something that is makes them relevant .. it is like it is their newspaper.. with FREE writers and they put ads on.. like it is their TV show but they pay no actors, no writers, no producers... they simply get the content (the Show - and all the actors) for FREE and they get the money from the advertisers...

See How it Works... They Use You and Give you NOTHING in Return. Not even the decency to actually enforce their whimsical Code of Ethics and their absurd Standards of Practice.

You Lose....

MLS Data Belongs to YOU the Real Estate Consumers, yet Every Greedy new company wants it to sell it back to you somehow... this is WRONG.. Very - Very Wrong...

Crystal L. Cox
Real Estate Whistleblower

Selling Without a Realtor - Powerful Secret Selling Tip from Real Estate Industry Insider - Real Estate Broker Owner

2009-09-13T18:34:00.001-07:00

For Sale by Owner Super Selling Tip.

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Real Estate Broker Owner

THE BANKRUPTCY LAWS ARE BROKEN!!

2009-07-23T10:51:00.001-07:00

THERE IS MUCH MORE YOU SHOULD KNOW ABOUT WHO IS IN CONTROL OF YOUR MONEY AND WHAT THEY ARE DOING WITH IT SO GO TO ALL THE INFORMATION SITES OUT THERE. SIMPLY GOOGLE "KEVIN PADRICK" OR "OBSIDIAN FINANCE" TO FIND OUT WHO IS GOING TO MAKE MONEY OFF THIS DEAL, WHILE SUMMIT 1031 EXCHANGERS GET DUPED TOO.

FIRST KEVIN PADRICK & OBSIDIAN FINANCE DUPED THE SUMMIT PRINCIPALS (Summit Principals contracted with Obsidian Finance to assist them in their restructuring efforts, BUT instead they assisted them in throwing them off a cliff)

SECOND KEVIN PADRICK & OBSIDIAN FINANCE DUPED TERRY VANCE CRO - While Terry was actually working to save your money, Padrick & Obsidian Finance somehow convinced Judge Dunn; the US Trustee - Robert Miller, Pamela Griffith, & Vivienne Popperl; the Creditors' Committee's legal counsel - Perkins Coie; and even Summit 1031's own bankruptcy attorney, Sussman Shank, to vote Padrick in and Vance out. The whole Attorney Fraternity joined Padrick in his GAME - which is your MONEY!!!

Go to my blog to see what other ventures Kevin Padrick has had in his career where he, ONE MAN, made a boatload of money off of 100's of people:

ANOTHER BIG QUESTION- Why did Sussman Shank rollover and vote Padrick & Obsidian in when they were the one's who counseled Summit Principals to hire Terry Vance as CRO? Can't tell you, but I did hear that Susan Ford, their lead attorney, was out of town when their minds changed. Who was driving the ship when Susan Ford was gone and why did they jump into Padrick's ship?

THERE ARE SO MANY BIG QUESTIONS- Why did Perkins Coie let a Summary Judgment go through that has absolutely NO TEETH for the creditors' committee - their own clients? You tell me. Seems like the attorney's are making a BOATLOAD, $2 Million already, for absolutely no protection of their OWN CLIENTS rights.

How did I get involved in this?

First Reason - My Dad (Mark Neuman), Brian Stevens, Lane Lyons, & Tim Larkin are good men that were following the regulations set forth for their business and now they lost everything.

My dad worked very hard for many years, helped everyone in the Bend Community, and cares very deeply about others and their well-being was being looked at like a criminal for following the rules and regulations of 1031 exchange companies. Everyone was happy when Summit 1031 helped them save taxes. Now he is being looked at like a criminal - well he has done nothing like Kevin Padrick. He never intended to not have your money available.

Brian Stevens & my dad put their personal real estate up as security for Inland, just to put their partners, Tim Larkin & Lane Lyons, at ease. The bulk of the Inland loans were in various real estate investments related to Mark & Brian. So they both put did $5 million trust deeds and secured it with almost all of their property (none of which had Inland debt- at least not the property dad had).The FBI was chasing the $10 million for a couple months. They, of course, found the trust deeds and immediately concluded that the $10 million was in a Swiss bank account. Not sure what you think, but why would someone record a trust deed to steal money and send it to a Swiss bank account?? Soooooo.......

Second Reason - There are 106 Innocent Parties who are also suffering from the Bend economic crash, but now have to deal with someone who wants to bully them, force them to use their cash (Summit 1031 Exchanger assets) to protect the investments for being taken by Obsidian and from going into foreclosure (LOSING Summit 1031 Exchanger value).

The following is my list of what I call "list of atrocities" which include all of the things these highly compensated professionals are charging Summit 1031 Exchangers $112K to do with no value for the Summit 1031 Exchangers.

For more detail go to my site:

http://www.summit1031bkjustice.com

Obsidian Finance seized another bank account Monday! Obsidian Finance sends letters to Renters for them to send their rent checks to them, while the 106 Innocent Parties are having to pay the debt service payments and operational expenses. Well, guess what, they won't be able to keep up for long, forcing the properties into foreclosure. Then my guess is that Padrick's friends (if that is what you call them) will buy these properties at discounted prices from the banks. Later to end up with the Windfall when the economy comes back!

Well these 106 Innocent Parties put their hard earned money into these investments, they take care of them, and they pay the bills. I see this as Legal Extortion, but according to Judge Dunn these properties are not in his Jurisdiction even though his court allowed for the transfer of the Summit Principal's interests to be transferred to Kevin Padrick. Doesn't Judge Dunn know Kevin Padrick's track record or has he been duped too?

Third Reason - I got the notice on the Attorney & Professional fees in this case and was dumbfounded. I decided to go through Obsidian Finance, Kevin Padrick, and Tonkon Torp's fee applications and I found a ton of OVER BILLING for NO VALUE. Supposedly the Court is supposed to monitor this, but so far I haven't seen the court monitor anything on this case. It is my opinion that the Court has put your Money and Value in jeopardy and is not doing their job to protect it. There are 100 Summit 1031 Exchangers losing their money!!!

Why is it that Summit 1031 exchangers are footing the $2 Million Dollars of Attorney Billings when my opinion is that none of these "professionals" are watching out for their best interest? They tell me that the Court (Judge Dunn), the US Trustee (Robert Miller, Pamela Griffith, Vivienne Popperl), and the bankruptcy or liquidating trustee (Kevin Padrick) that they are supposed to act in the HIGHEST FIDUCIARY DUTY, which means...

A fiduciary duty is a legal most commonly a fiduciary or trustee and beneficiary. One party holds a fiduciary relation or acts in a fiduciary capacity to another, such as one whose funds are entrusted to it for investment. In a fiduciary relation one person justifiably reposes confidence, good faith, reliance and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires one to act at all times for the sole benefit and interests of another, with loyalty to those interests.

A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.

A fiduciary duty is the highest standard of care at either equity or law. A fiduciary is expected to be extremely loyal to the person to whom he owes the duty (the Summit 1031 Exchangers): he must not put his personal interests before the duty, and must not profit from his position as a fiduciary, unless the (Summit 1031 Exchangers) consents.

In English common law the fiduciary relation is arguably the most important concept within the portion of the legal system known as equity. In the United Kingdom, the Judicature Acts merged the courts of equity (historically based in England's Court of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became usable in common law courts.

When a fiduciary duty is imposed, equity requires a stricter standard of behavior than the comparable tortious duty of care at common law. It is said the fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, a duty not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without express knowledge and consent. A fiduciary cannot have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd"[2] and that "[t]he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty."[3]

I am just not seeing how this Court, the US Trustee's Office, Kevin Padrick are at all maintaining their FIDUCIARY DUTY to the SUMMIT 1031 EXCHANGERS. Do you see it?? BUT MOST IMPORTANTLY - DID YOU APPROVE IT?

My "list of atrocities" alone should show that Kevin Padrick and Obsidian Finance are not acting with a "stricter standard of behavior than the comparable tortious duty of care at common law". WHY ISN'T HE ACCOUNTABLE TO THIS SO CALLED FIDUCIARY DUTY?

Why is Kevin Padrick and his Attorney Fraternity stand to make a 10% success fee based on claims racked up?

Why is Kevin Padrick's company, Obsidian Finance, going to make 15% off the sales of property? A normal trustee usually only makes 1%.

I see a ton of profit making for Kevin Padrick and Obsidian Finance - DON'T YOU???

SOMETHING IS SERIOUSLY WRONG WITH OUR BANKRLAWS AND THE INSTITUTION AND EVERYONE IS PAYING THE PRICE!!!

The entire country is lining up at the bankruptcy courts. Our countries citizens are losing everything because of this of our economic condition and NOBODY is helping them. I see the suffering everyday as clients visit with their financial heartaches asking me "What do I do to SURVIVE this?"

Then you compound the situation with a nightmare bankruptcy case like Summit 1031 where 100 Summit 1031 Exchangers, 106 Innocent Parties, and 4 Summit Principals loose everything to the Attorney Fraternity because our laws are broken???? 210 People SUFFERING while Kevin Padrick and Co. play their GAME!!! It just pisses me off to see so much suffering and ABSOLUTELY NO PROTECTION FOR THE PEOPLE.

I don't see how these BROKEN LAWS will help our country through this economic crises. President OBAMA - LOOK AT THIS PLEASE!!! If thes BROKEN LAWS don't get fixed, you will end up with a few rich attorneys spending the money frivilously (is my guess), while hard working people lose everything and aren't able to contribute to the economy in the GOOD ways they once were able to. President OBAMA - Pay attention - You ask us to all put forth the effort to help our country - Well I think I am doing my share, but I am a nobody with too many hats!

BEFORE SUMMIT 1031 BANKRUPTCY MY HATS WERE: MOM, WIFE, DAUGHTER, CPA, BUSINESS OWNER, AND REAL ESTATE INVESTOR.

AFTER SUMMIT 1031 BANKRUPTCY I HAVE TAKEN THESE HATS ON: "ACTING LAWYER - YUCK!", VOICE FOR THE HARMED, WHISTLEBLOWER, BLOGGER, REPORTER.
I HATE ALL THESE HATS - I would much rather not be doing this. I would much rather enjoy time off and be with my kids and husband. Instead, they watch me everyday fight this fight! They ask me why. I tell them because TOO MANY ARE SUFFERING for ONE MAN'S GAIN!!!

FOR MORE DETAILS GO TO MY SITE AT:

http://www.summit1031bkjustice.com

Have You or anyone You Know been affected by the Summit 1031 Exchange Bankruptcy?

2009-07-23T09:49:00.001-07:00

If so it is Time for You To be in the Loop
On What is Really Going on
With YOUR Money.

Find Out More about What is Really happening
with your Money at the Following Websites.

Everyday YOU ARE losing Hundreds of Thousands of Dollars.

www.ObsidianFinanceSucks.com

www.Summit1031BKjustice.com

There is way more to the Summit 1031 Bankruptcy
then the Media will Have you Believe.

Realtor becomes Squatter - Realtor has Squatters Rights in Florida Apparently and NAR they Don't Care.

2009-07-21T18:19:00.000-07:00

A story of Squatter Rights in Florida.

Squatters rights sound sick indeed, I guess every state is different. In Montana I had this happen and the local judge said to post a 24 hour notice, and then you could go in after that with a cop to take possession.

I know there are laws about living on a property Adversely where you can somehow file title after 5 years. Sick but true.

However, today we have a story from Florida where a Realtor has changed the locks of a Eldery man's home, and she is living in the home. She claims squatters rights, has moved in others and has big dogs.

This is a Perfect example of NAR standards, now how does a Non-Realtor file an Ethics Complaint against a Realtor, well they don't really. Who helps Real Estate Consumers in situations such as this? Well I am use to NAR, and the local Realtor Associations doing Nothing. We are about to find out if Florida Senior Advocates, Elder Abuse Advocates, Florida Real Estate Regulators, NAR, Florida Association of Realtors or anyone Really will help these folks to GET this Realtor out of this home.

Squatters Rights, Really? Does NAR Condone Such Behavior. Apparently they Do.

Does the National Association of Realtors even really care what their members are doing all day everyday that are directly opposite of their so Called Higher Standards and Play Pretend Pinky Swear Ethics?

Below is the Story Sent to Me today, we will be adding more to this story as we EXPOSE all involved, Stay Tuned our our Realtor Whistleblower Network.

HERE is the STORY as Sent to ME

I found out today that I have a dear friend in trouble (Marge)- the woman volunteers for The Society of St. Vincent DePaul (our mission is to provide all kinds of help to those in real need), she is retired and a good friend of my family.My mother and she are neighbors in a gated community in Naples, Florida. Long story short - they are neighbors of a man who was diagnosed with stage 4 bone cancer.

He is British and wanted to return to England to live out what time he has left. He hired a realtor from Downing Frye to sell his home.

The realtor allegedly asked the owner if she could Live in the house while she showed it???? He supposedly said yes. She has no lease- she pays no rent.

She apparently neglected to tell him that she was bringing along at least two other people and three large dogs. Marge and other neighbors called the owner - who asked the realtor to leave.

She promptly told them that she has squatter's rights and needs notice. When the squatters rights for Florida scenarios was checked out - they found out that she was right and could be in the house anywhere from 3 mos. to a year and has to be served official papers and given ample time to be evicted.

Apparently this past weekend - Marge and another neighbor found out that this realtor had changed all of the locks on the premises and rearranged all of the furniture and the house. They informed the owner.

He asked Marge and Nancy to please change the locks (he is still in England with bone cancer)They saw that a back window was open - (they both had original keys to the house since they had cared for it before) .

They called the locksmith and had the locks changed.

The squatter/realtor comes home. Calls the police - tells police that someone broke into the house and stole valuable items including all of her jewelry. One cop sided with Marge and Nancy - the other with said realtor.

She is pressing charges for breaking and entering and theft. Nancy and Marge are each meeting with attorneys tomorrow.

Marge is 74, a wonderful person, and very upset.

Are there not rules against realtors becoming squatters? Is that not a conflict of interest? What would give her any incentive to sell the house at all? Paying no rent, very nice home, gated community with a beautiful clubhouse and other amenities? Is that not ground to lose a license?

I know there are squatters and the situation is getting worse because of all of the vacant houses - but this woman misrepresented herself - she said she was a realtor (and is)but took advantage of a client and under false pretenses - who is suffering through the last of his life with a very painful disease.

Real Estate Victims Stories

Crystal L. Cox
Real Estate Whistleblower
Elder Abuse Specialist
Self Appointed

Stay Tuned for the Names of ALL who are a Party to this Blatant attack on YOUR Civil Rights, real estate rights and your life, brought to you by NAR.

Elder Abuse Florida

Real Estate Consumer Attack Florida

Kevin Padrick of Obsidian Finance is Trying to Have Does Kevin Padrick Own the Oregon Police.....Kevin Padrick wants Stephanie DeYoung Arrested for...

2009-07-20T23:37:00.001-07:00

Kevin Padrick of Obsidian Finance is Trying to Have Does Kevin Padrick Own the Oregon Police.....Kevin Padrick wants Stephanie DeYoung Arrested for Industry Whistleblowing.

Does Oregon have a Criminal Code? Is Kevin Padrick following the Criminal Code? Can Kevin Padrick MAKE the police take "Evidence" from Stephanie Studebaker DeYoung.

Do Whistleblower Laws protect these videos? How can a local cop take them... Well I guess Kevin Padrick ZILLIONAIRE owns the Oregon Police.

Folks, you had Better Wake Up.. if you are a Victim of the 1031 Summit Exchange Bankruptcy it is past time for OUTRAGE.. Kevin Padrick of Obsidian Finance has BIG MONEY and he can even tell the local Oregon Police what to do.

Stephanie Studebaker DeYoung has made a Stand for the Folks hurt and being lied to in Regard to the Summit 1031 Exchange bankruptcy, She taped a meeting - She was allowed into the meeting and She is an Industry Whistleblower. YOU have rights to know what was said and what is being done to you to deliberately CHEAT you out of MILLIONS OF DOLLARS.

Does Kevin Padrick of Obsidian Finance Own the Oregon Justice System? These Videos need to be seen and they affect more then JUST Oregon Investors.

Do local POLICE have a right to take these videos from Stephanie Studebaker DeYoung? I don't think they do but they sure act like they do and they are GOING TO DO IT...

How far will Kevin Padrick REALLY go to Silence the TRUTH and to KEEP you, the Exchangers from Seeing ANY of your MONEY?

If your interested in the TRUTH - you had better Download these videos NOW on your hard drive or computer, because Kevin Padrick does not want the Creditors Council, the Exchange Council, the Department of Justice, the Exchangers to see these Videos.. and he will STOP at nothing to get this Channel Shut down...

http://www.youtube.com/user/Summit1031bk

Download these Videos and Post them EVERYWHERE, this is WHISTLEBLOWING and The 1031 Exchange Victims have a Right to Know.

FBI Mortgage Fraud Crackdown - a Flat Out Lie

2009-07-19T21:31:00.001-07:00

This is Such a Crock, They are SO understaffed and disinterested in Mortgage Fraud it is not even funny. Loan Fraud, Identity Theft is Rampant and when a Broker Owner, ME, Reports Proven, Deliberate, Obvious Mortgage Fraud - the FBI does no cracking down !!! The FBI does no investigations, and won't even respond.

The FBI does not seem to care about Real Estate Fraud, Mortgage Fraud - I have reported it with proof and no response.

Who is David Aman of Tonkon Torp? What Motivates David Aman to Want to Silence Industry Whistleblower Stephanie DeYoung? Is it Kevin Padrick's Money

2009-07-17T19:33:00.000-07:00

Flat Out Real Estate Consumer Smackdown.

If the Real Estate Consumer is Harmed, Mis-led, lied to and TOLD that Summit 1031 is holding their money hostage, and somehow robbing them blind but the Truth is that someone else is actually holding the money up, taking HUGE chunks or the money and creating a smoke screen, well then the Real Estate Victims in all this Deserve to know the Truth.

Stephanie Studebaker is on a mission to tell the Real Estate Victims the Truth, she is being an Industry Whistleblower and telling what is going on behind the scenes that is in FULL DISCLOSURE and that the Real Estate Consumers Deserve to Know.
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David Aman wants her to NOT tell you, the Real Estate Consumer the Truth about where your money and going and David Aman of Tonkon Torp working on Behalf of Kevin Padrick of Obsidian Financial ~ Why are they Fighting so Hard to Keep You, the Real Estate Consumer from knowing the Truth? David Aman is seemingly on a mission to Shut up Truth Telling that May help Real Estate Consumers to understand what is Really Going On.
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So if David Aman of Tonkon Torp FOR Kevin Padrick were to Succeed in shutting up the Industry Insider, the Industry Whistleblower Stephanie Studebaker - DeYoung then this successfully would Strip the Real Estate Consumers of their Rights to what is Really Going On.
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The Real Estate Consumers are the Real Victims here and I feel that they deserve to have ALL the INFORMATION available so they can fight this, get justice, get their money back, and to know who it is that is taking their money, holding their money hostage and holding up their justice and in that putting their very life on hold.
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Read what Whistlebower Stephanie Studebaker has to Say about all this...

http://www.summit1031bkjustice.com/

Also Check Out These Videos.. for your Need to Know.

http://www.youtube.com/user/Summit1031bk

Who is David Aman of Tonkon Torp and what motivates him to do as Kevin Padrick Says and Interfere with the Truth being Told ?

2009-07-17T18:53:00.000-07:00

Well I Read on the Link Below that David Aman at Tonkon Torp is Kevin Padrick’s legal counsel and that he wants to somehow Silence the Truth about Kevin Padrick and Obsidian Financial.
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The Thing is the Real Estate Industry Whistleblower, ME, Demands that the Real Estate Consumers THE Real Victims here have access to ALL the information so that they can make Intelligent, Educated Decisions.
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Treating the Real Estate Victims (Consumers) Like Mushrooms and Keeping them in the Dark and Feeding them Bull is NOT Good for the Real Estate Consumer and I simply Won't Stand for it.
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Millions of People NEED to Look at

http://www.summit1031bkjustice.com/?p=1419

and to Post the Truth about Kevin Padrick

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My goal is Justice for the Consumer and it is True that Summit had 13 Million, a 10 Million Dollar Bond and an E and O insurance Policy - then there Was and still may be a bit of Money for those Real Estate Victims and They deserve their life back and RIGHT NOW. If Kevin Padrick is the ONE main glitch between my real estate consumers and their MONEY - well then we have a right to know. How can we know where to head for the MONEY, if David Aman of Tonkon Torp. - Kevin Padrick of Obsidian Financial Fight to Silence the Truth.
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What Plays out with the Bankruptcy of Summit 1031, David Aman, Tonkon Torp, Obsidian Financial, Kevin Padrick, and all the other players will EXPOSE the whole 1031 Exchange Business from Top to Bottom as Well as Bankruptcy Laws and anything else that may hurt the real estate consumer in all this.
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Real Estate Consumers Deserve nothing less then the Truth and I Intend to Tell it.
rr

It is My Watch Now.

And the Real Estate Consumer Now has a Voice, I will Be Heard. So Mr. David Aman of Tonkon Torp if you need to Email me a threat or to email a Cease and Desist you can Email me at Crystal@CrystalCox.com
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I will Get to the Bottom of this. The Real Estate Victims may Never Get their Money back, but they WILL NOT blame the wrong person, and they will get justice somehow.
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Stephanie DeYoung says "I Object" - Kevin Padrick

2009-07-17T18:52:00.000-07:00

We are Interested Parties who are concerned about the cost of this bankruptcy case to unsecured creditors, LLC’s and LLC Members all of whom are suffering financially from the aftermath of this case. On April 22, 2009 Century Drive Mobile Home Park, LLC filed a proof of claim(1) with the Court for $585,584.68 (Exhibit A) representing shareholders’ share of proceeds from a 7/31/08 sale of 20.17% of the property to Jim Hull via a Tenant in Common Agreement. Checks were written directly to Inland Capital Corp (debtor’s affiliated lending company). Pursuant to the Century’s operating agreement, capital contributions were required to be made to cover the $80K per year of negative cash flow arising from distribution of these funds without paying down the related debt associated with this sale.

We are Interested Parties who don’t understand how the actions of the Trustee, i.e. no cooperation(2), no communication, and conducting activities that violate our operating agreements are able to create value for the estate. We believe these actions are a wanton waste of time and money, which increase legal and professional fees and decrease the assets in the estate, while increasing estate liabilities.

Full Article Click Below

http://www.summit1031bkjustice.com/?page_id=1196

REALLY want the creditors to get their money back!

2009-07-17T18:51:00.001-07:00

Could the Folks at Summit 1031 Want to Do Right by the Real Estate Consumer? If So Who is Standing in the way, Really?

Check this Out and Decide for yourself

http://www.summit1031bkjustice.com/?page_id=704

Knowledge is Power
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Realtors Deceive Everyone Equally

2009-07-08T12:31:00.000-07:00

Do Realtors even Cheat the banks, yes I know Shocking but I want to share with you another tidbit shared with me tonight.

Do Banks know this Stuff? Maybe they just don't care.

Some Realtors take banks foreclosure listings and find a way to create a fake distress sale, sort of with the bank themselves. Another words the Realtor can do something such as list the banks Real Estate Owned property, and not tell the bank about buyers they get, interested parties or even tell the bank of offers. These Realtors simply find a way to keep the bank thinking their are no real buyers when really they have lied about interest in the property, kept other Realtors and their clients from making offers by lies and games and sometimes flat out telling a buyer oh you can't have that listing. At this point a Savvy Buyer will contact the bank direct and NEVER trust the Realtor that there is an offer, several offer, it is contingent or any other reason the lying Realtor tells you in which keeps you from Buying the Property.

These Realtors will even deliberatly enter the wrong zip code to keep buyers at bay, this way the lender will come down even more or be "More Willing" to sell very low and the Realtor themselves or a friend of theirs will then buy the bank owned property. Believe me NAR, Realtors are a HUGE, very Huge part in the financial collaps we are now in.

And many Realtors will Continue to Benefit from these properties that the bank owns. They will be a part of selling them for the banks, they will buy some of them, and their friends and investors will be buying those homes NAR sold you and told you it was a GOOD time to buy.

The Scam of “Premier” Listings at Coldwell Banker.

2009-07-07T15:32:00.000-07:00

“Premier” Listings at Coldwell Banker are NOT what they pretend to be.

Coldwell Banker Realtors, not just Real Estate Agents, but NAR members make you think this is Some High Honor. They make you think Fancy Brochures, Websites and Big Time advertising they don’t tell you that you may have to pay for that advertising and you may not know, I didn’t that you have to actively participate in making them money by lowering your price.

If it don’t sell ( they Don’t Sell your Listing) in 3 Months, you have to take your price down 10%, and then another 3 months 10% again and this is whether the agent shows it or not, whether the agent treats you bad or not, and whether the Realtor, Coldwell Banker Agent even tries to sell your home or not.

The local example of a Coldwell Premier listing in my area is SHOCKING, for 2 years the agent has driven the price down on the Seller and they complied, though the Realtor did not show the home, now the selling is facing foreclosure and the Coldwell Banker Realtor says “Let the Bank Have It”, you see the Realtor and the Loan Officer are “Buddies” and You, the Real Estate Consumer, well YOU LOSE.

During this time of Non-Action from the Realtor in finding a Real Buyer the Seller did as much as they felt they could to find a buyer, they were NOT allowed by Coldwell Banker to seek outside advertising not related to Coldwell Banker, yet Coldwell Banker was not doing any advertising at that time. I myself who dominate the market online in my area where the real estate buyer is actually look, I had permission, from the listing Coldwell Banker Agent last summer to help in marketing this home and for FREE. My company put their property on 40 of our websites and had called in 3 days, the 4th day Coldwell Banker shut us down, though we were directing calls to the Seller and we did all this for Free, Video, HUGE slide shows, and on our website that we were and are number one in our area. The Coldwell Banker agent and their Brokerage directly interfered with FREE and VERY effective marketing to assist a distressed homeowner, and that was a year ago. This Coldwell Banker agent still has the listing and has tied the Seller to them.

Desperate the seller begged the agent for Brochures on their property so she could put fliers up all over town, the agent said well that is to expensive, you can have some Black and White Copies.

Now the Seller is Facing a Foreclosure and the Agent is treating them worse then ever.

Coldwell Banker agents push people into Foreclosure, as they “work with” the banks and keep your loan and your listing hostage.

This IS Wrong. Do not let Realtors treat you badly. You are in charge of your listing. You have rights and you do not have to Settle with the Way Realtors treat you. Many Sellers feel they have to do what the Realtor says or they won’t sell. This same agent has demeaned my Sellers by showing up for a showing an hour late and saying Hey You want to sell or what, I could leave with my clients.

I hear some really bad stories of Sellers trying desperately to do all the work to sell their own listing, while the Realtor does nothing and at the same time talks down to them, trashes them and treats them with horrible disrespect.

They don’t have to advertise or even try and sell but your stuck in your contract with them, no matter how they perform or what lies they may tell you. The NAR contracts that they tell you are “Standard” - they contain a whole lot of “Broker Protection Clause” sentences and statements to protect the Broker, the Brokerage, the Franchise, the Agent and NAR and NOTHING to really protect the Real Estate Victim (Consumer) from the lies, fraudulent activity or flat out Non-Performance by the Realtor or the Brokerage.

I called recently to show a Coldwell Banker Listing, 2 days past and the Broker never returned my call, so I call the secretary, the folks who really to the work for the Real Estate Broker. There is no Reason to “Hire” a real estate broker if the Secretary is going to do all the work anyway. Fire your NAR member, your Realtor. Sell without a Realtor. I guarantee you that your Realtor is Interfering with Your Home Selling and getting paid good money to do it, while at the same time leaving you with no Protection in your Real Estate Transaction.

Take Back your Real Estate Transaction.

Stand up for your Rights in your Real Estate Transaction.

NAR needs Realtors, the Sheep in the Field to Stand Up

2009-07-02T18:35:00.001-07:00

NAR needs it's Members to Stand up and to Fight for the NAR Agenda. This is NOT about what is best for the Real Estate Consumer - this is about what is best for NAR.

NAR has a Proven Track Record of Lying to YOU and they do not let up. This video may be removed and taken to a Secret members area but for now it is here and it is a STRONG evidence to how Realtors are encouraged to Stand up for NAR's agenda that make NAR stronger and richer, and hurts the real estate consumer, though NAR pretends that it is in the best interest of consumers. This Video says quantity is KEY.. but Congress is only hearing from the REALTORS on these issues... the Real Estate Consumer does not know, so they don't get a voice.
This video also says THEY ALLOW for personal comments on the Call to Action.. .. so another words.. NAR feeds the Realtors in the Field what opinion to have, what to say. And in the Spirit of We are INDIVIDUAL OFFICES and do not VIOLATE anti-trust laws, what the Realtor Sheep end up doing is sending the same Call to Action letter to Congress in mass and then claim they are independent offices, and that their is a Spirit of Cooperation and individuality when it is a Flat Out Lie. Oh but they let you put in a personal note and Congress especially likes that... is this only Alarming to Me... I read many of this letters on the Department of Justice website with the Anti-Trust Lawsuit between them and NAR... it is sad seriously.

they say it is important that REALTORS get their Voice heard at every step along the way... this is to ensure that the Realtor get their way, and Guess what YOU LOSE...

This Video proves that NAR lobbying and tactics is to Keep Realtors in Business, when I was still a member we got these Calls to Action all the time, the Public - the Real Estate Victim (Consumer) don't know what hit them.. all they know is they have to call a Realtor if they really want to sell.. NOT TRUE.. but believed.

http://RealtorActionCenter.com/
this Stuff is Sick - this to Advance the Realtors Priorities.

www.CharlesMcMillan.com

the Last NAR President Got away with Lies that ruined the lives of Millions and here we go again. Charles says WE NEED ALL OUR MEMBERS TO PARTICIPATE.. you had BETTER be scared Consumers.. because the Realtors will get their way and you will Lose.

Real Estate Lies Ruin lives and their numbers and financial backing MAKES your lawmakers FORCE them into your Real Estate Transaction even though the Realtors are not held accountable for lies and their E and O insurance will make it EASY for Realtors to lie... This Madness has to have and END.. I wish this kind of MONEY, clout and numbers of people would stand up for the Real Estate Consumer instead of What NAR wants.

Silent Fraud, Adverse Material Fact, Broker Protection Clause, Failure to Disclose and Much more that is used against the Real Estate Consumer in the great Real Estate Hoax.

Real Estate Complaints are NOT heard. If the Broker Lied, how do you hold them accountable, You Don't.

Broker Protection Tactics are Out of Control, YOU LOSE.

Reputable Brokers are Forced Out.

Should You Buy, Hold, Or Sell in This Housing Market?

2009-07-02T18:34:00.001-07:00

Listen to Charles McMillan SPEW the NAR agenda.. at the Real Estate Consumers Expense. NAR got you Hear DO NOT Listen to what the NAR current Cronies are saying....

The housing sector NEEDS to recover BEFORE the economy as a WHOLE can - TRUE.. but get NAR out of Real Estate. NAR created the "Housing Sector" collapse and now they want in on the fix... REALTOR Wins... you lose..

Crystal L. Cox
Broker Owner
Real Estate Whistleblower
www.RealEstateIndustryWhistleblower.com

NAR president on CNBC, 2/11/08 - NAR Lied and The are NOT accountable in ANY way.. no ONE Cares

2009-07-02T18:33:00.001-07:00

Richard Gaylord is Lying in this Video and No one can do anything about it. NAR is Not held to the Higher Standard that they brag they are all about. NAR Should be held accountable for this dispicable Propaganda but they are not. And in fact though they Convinced you to Get deeper into debt, though they have not Quality control over MLS data and do NOT hold Realtor, NAR members accountable for the damage they do for real estate consumers .. well NOW they are advising your Government on What Next, to Save You the Real Estate Consumer, and because NAR is a Billion Dollar Entity - your Government listens to their Advice, Clout, Pressure and Flat Out Lies.

The Video below Should NEVER be Forgotten and Should Never Be forgiven. NAR got you the Real Estate Consumer into this Mess and not enough People are point the Finger at the NAR president and the National Association of Realtors. I saw this stuff first hand and you, the Real Estate Victim (Real Estates Consumer) - you have been Duped ~ and now NAR is "working with Congress" as the New NAR president Charles McMillan prepares for more LIES forced on the Real Estate Consumer to come to YOUR aid when they are the PROBLEM in the First Place.

NAR is lying and where does it End? Big Money and Big Politics will keep NAR forced into your Real Estate Transactions and you can do nothing about it, Seemingly.

Buy - Buy - Buy ... Lies .. Lies.. Lies.. Higher Loan Limits, this is GOOD for BUYERS.. no way, prices were to high, loans were forced and NAR was pushing buyers and they want you to still use a "REALTOR" NAR member to sell your distressed home.

This stuff is Sick and VERY wrong and should never be forgotten. NEVER - Ever Forget the lies told by the National Association of Realtors that took Real Estate Consumers Down.. RealEstateIndustryWhistleblower.com - Crystal L. Cox - Real Estate Consumer Advocate.

If they are having trouble with loans - they can refinance - so another words, false equity, false debt that should not be on the consumer and PUSHED by Liars at NAR.. do NOT believe the Realtors Association and Never Trust them.. EVER..

The Reporter Questions and the LIES just keep rolling.. You were deceived by NAR…. Don’t forget it..

The president of NAR Said, with low interest rate and lots of inventory it is time to buy. How can this guy sleep at night.. Prices are Leveling off he said, What a Clueless Ass. NAR knew, they lied to the real estate consumer made billions from those lies and now they are set to make billions more as you Lose everything and they get their hands in that.. Higher LOAN Limits Save from Foreclosure, those are OUR Statistics from OUR Research Department.. Holy Cow.. NAR is Clueless or Did they really know and simply let you keep lining their pockets til’ the crash was obvious. Hmmm…

30 Years in the Business.. WoW..

He sure has done a lot of Damage.. And NO accountability from NAR to the Real Estate Consumer across the board.

And now the Current NAR President, Charles Mcmillan is working with Congress to get you back into these same types of messes.. NAR is NOT the voice of Real Estate.

NAR Lies and cheats the Consumer in every way imaginable…

Stop Using NAR members and DO NOT forget this Deception.

NAR does not Hold Realtors Accountable for Lying to YOU.

and NO ONE holds the National Association of Realtors accountable for Flat Out Lies such as in this Video. You MUST demand that NAR be Held Accountable for Lying to You. STOP using NAR members, Realtors. Write to all the Politicians you can and tell them how you feel. Talk to the Department of Justice. NAR has more money then any of the Government Entitites that are supposedly set up to protect you. And NAR lobbying and Clout will win to GET their Way so they get Richer... and NAR is Using your Money to Do it. And of course other "Lobby Dollars" , "Political Pull" and "Clout".

Here is the Secret Weapon, IF you the Real Estate Consumer, the Real Estate Victims Speak out about Realtors, NAR and you Stop letting them do this to you, then little by little the EMPIRE, the Cartel will come down and you the Real Estate Consumer will have a chance. For now, their billions are stomping on you daily and you don't even know it.. and odds are your local Realtor does not know either, they just play follow the leader, don't ask questions and Get my Paycheck..

the National Association of Realtors Sure Spends and Awful Lot of Money for WHAT IS BEST for You ???

2009-06-27T15:33:00.000-07:00

NAR Spends Big Money, BIGTIME, Just to Get things to Go Their Way. Do not think for one minute that NAR spends this kind of money on what is of the Real Estate Consumers Best Interest. NO Way. The National Association of Realtors would not be spending this kind of money to Stomp their Feet and Get their Way if they were not Making Billions from the Decisions Your Government makes that is Supposedly in your Best Interest.

Realtor, NAR is out for what Best Suits the Needs of the National Association of Realtors and what Keeps YOU having to Use them though they pretend it is a choice, while they lobby - lobby and keep forcing their way into your life.

Everyone knows that you DO NOT need a Realtor
to Sell your Real Estate, but NAR Lobbys Constantly and with your Money
to make sure they stay in your life and that more and more LAWS are enacted to keep you needing them when in TRUTH you simply do not need a Realtor in your Real Estate Transaction. AND in FACT, - YES fact.. Challenge me If you Must.. I know many Of you Cannot Resist, But in Fact ... Using a Realtor can Harm you more then if YOU do Not Use a Realtor. A Realtor can NOT protect you in Your Real Estate Transaction, that is just the way it is. FACT..

E and O insuarance Makes Sure of That.

and NAR, on your Behalf of Course... NOT,
well They Push for Mandatory E and O insurance, they sit down at the State - Local and Federal level with the Big Wig from the Big E and O insurance Provider and they set our to sell your Govering Bodies over Real Estate on the LIE that Mandatory E and O insurance is Good for Consumers as well As Realtors, yet tell me a Real Estate Broker Owner that my E and O insurance is NOT intented to protect my clients.

This Kind of Money at the Link Below is SICK
http://www.opensecrets.org/orgs/summary.php?id=D000000062

STOP Using Realtors, NAR members..
They are Using YOUR Money Against You.

your Listing is more then Commission for the Local Agent..
It is also Big Content - Big Time on their Billion Dollar Websites
that they use to Sell everything to EVERYBODY..

You LOSE

STOP Using Realtors

Boycot Realtors

Keep in Mind that the Lobby Money above is Just Part,
NAR also works with insurance companies, banks and
have alot more Lobby Money out there then that.

NAR is so Nicely Diversified that you will NEVER
Truly know where their Billions go.. and Keep the Real Estate Consumer in the Dark is the Real True Motto of The National Association of Realtors - they are NOT really the VOICE of Real Estate - they are NOT of a Higher Standards and NAR Does not Take Ethics Seriously - it is all to pull the wool over you, the real estate consumers Eyes and most just eat it up.

Site Quote Below
"The National Association of Realtors represents the nation’s real estate industry. While the bulk of its issues tend to deal with property management and control, the group also lobbies members of Congress and the administration on virtually every issue facing business, including health care reform, bankruptcy legislation and tax cuts. One of its biggest issues in recent years has been a move toward deregulating the financial services industry. For years, real estate agents have successfully warded off attempts by banking interests to delve into the sale and management of property. One of the keys to the group’s success: It supports Democrats and Republicans almost equally."

Yes Let's Let Realtors, NAR, the National Association of Realtors KEEP on KEEPING keeping Banks out of Real Estate, though the Banker Knows your Business anyway, lends you money to buy and though NAR's Reason which I have listed on OTHER Blogs are complete Nonsense, Bogus and Riddled with Flat Out Lies.
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Yes Let NAR Keep Banks Out of Real Estate (so Realtors can Stay in Business) but at the Same time stand By while the National Association of Realtors starts their Own Credit Union, sneekily, quitely, getting into the Banking Industry, the Lending Industry, and pulling the wool over the Department of Justice Every Day of the Week.

Shhhhhh.. NAR - Realtors Violate Anti-Trust laws Daily and they Cannot be STOPPED - they have to much of your Money and they, NAR is Seriously Using it Against you.. The Real Estate Consumer.
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Related Link Below

http://www.opensecrets.org/orgs/list.php?order=A

Check OUT this Link Below on Realtor Association Contributions

http://www.google.com/search?hl=en&rlz=1R2GPEA_en&num=100&q=site%3A%2F%2Fwww.OpenSecrets.org+Realtor&aq=f&oq=&aqi=

Coldwell Banker Lobby Link
http://www.google.com/search?hl=en&rlz=1R2GPEA_en&num=100&q=site%3A%2F%2Fwww.OpenSecrets.org+ColdwellBanker&aq=f&oq=&aqi=

Century 21

http://www.google.com/search?hl=en&rlz=1R2GPEA_en&num=100&q=site%3A%2F%2Fwww.OpenSecrets.org+Century+21&aq=f&oq=&aqi=

Cendant
http://www.google.com/search?hl=en&rlz=1R2GPEA_en&num=100&q=site%3A%2F%2Fwww.OpenSecrets.org+Cendant&aq=f&oq=&aqi=

Real Estate
http://www.google.com/search?hl=en&rlz=1R2GPEA_en&num=100&q=site%3A%2F%2Fwww.OpenSecrets.org+Real+Estate&aq=f&oq=&aqi=

Carleton H. Sheets

2009-06-25T19:11:00.000-07:00

Enough Already.. Infomercial Bull.. over and over talking you into buying STUFF to make Them Rich.. are people other Carleton Sheets actually getting rich from this.. ?

Foreclosure Rescue Scam,

2009-06-25T19:07:00.000-07:00

I am sure Most Realtors Know this Stuff. But for those who don’t and for the Real Estate Consumer here it is.

2009-06-21T22:29:00.000-07:00

I have written before on the REALTOR credit Union and I seriously question how it will really benefit Realtors, in Real Life. NAR seems to be the Hero in some articles but in NAR agenda and events information it talks about the Realtor dues being raised to pay for the Credit Union.

I imagine the Realtor, members will have other ongoing fees to keep this NEW “Agenda” going.
Will Realtors be able to Get Loans? Who will make the money on these fees and interests? Who will leveredge what this Credit Union is worth to invest in Really Big “other” markets? Who will use the Realtors debt as their asset as Credit Unions Do?

Who gets to use the money overnight and when not “needed” by those who really own it, to invest in currency trading, life settlement policies and insurance ? This Credit Union by and for Realtors is made to look like a good thing, and the Realtors are willing to pay more dues in order to have it, however, the Truth is it benefits NAR’s top cronies, those who make Billions Behind the Curtain of illusion at NAR.

Information such as the Following.. Talk about the Membership Dues raised for this… the latest NAR Scam..

http://www.callclareity.com/nar2007midyear/index.cfm
“The NAR Director's MeetingThe directors voted to raise NAR's annual membership dues to $80.00. NAR plans to use some of the extra cash it will receive to create a federally charted credit union for its members and create a technology investment group to help increase the development of new technology for Realtors.

Oliver Frascona - Folks I have a New Site about NAR education, Politics and other

2009-06-21T21:15:00.001-07:00

I have www.OliverFrascona.com to discuss NAR Continuing Education, NAR not listening to me talk about instructors teaching the wrong laws and more. I had done ONE simple post at www.RealEstateIndustryWhistleblower.com talking about my local association not hearing me on Agency classes taught by Oliver Frascona, for years the same information was taught and NO one listened to me telling them.

Come to find out, brought to my attention recently, Oliver was Teaching Colorado Agency Law in Montana which is why my agents were so confused, and it made me upset because I told the local NAR Executive Director at our local board of Realtors over and over of the problem. She ignored me.

So I used this example in my Real Estate Whistleblower blog, Oliver seen his name and he emailed me some childish remarks and so begun my Real Estate Expose' on Oliver Frascona in order to educate the Real Estate Victims, otherwise known as the Real Estate Consumer on issues of NAR politics, NAR continuing education and much.. much more so check out.. www.OliverFrascona.com - this blog is new so stay tuned for many - MANY more posts ...

g

Under The Influence of the Realtors - Not in YOUR best Interest.. no way..

2009-06-12T14:52:00.000-07:00

Are Tax incentives that Realtors brag about Lobbying for Homeowners - Are they Really that Big Of A Deal? I think it is just a way to get more people into more homes, to make more money for the builders and the REALTORS but they ACT LIKE they rode in a white horse and are here to save the day for the homeown. Look Deeper... Buyers and Sellers - know that Realtors would not spend $100,000 a day to lobby to push something as small as YOUR TAX INCENTIVE, it is about their big commission, big developers and big home builders being able to get BIG MONEY..

The National Association of Realtors and the National Association of Homebuilders lobby for what is in their Best Interest, never let them tell you any different...

Article of Interest to Topic..

"Realtors, Homebuilders Score a Stimulus Coup

The National Association of Realtors and the National Association of Homebuilders of the U.S. scored a lobbying coup when an amendment was added this evening to the Senate stimulus bill that doubles the maximum size of the homebuyer tax credit from $7,500 to $15,000 on all purchases of principal residences.

The existing credit is scheduled to expire at the end of June, but the measure cosponsored by Sens. Johnny Isakson, R-Ga., and Joseph Lieberman, ID-Conn., would extend the credit for one full year from the date the bill is enacted. It adds an estimated $19 billion to the stimulus package. The amendment was approved by the Senate without dissent after Banking Committee Chairman Chris Dodd D-Ct. signed onto the provision. "It's a recognition that housing has to be fixed if the economy is going to recover," said one industry lobbyist.

-- Peter H. Stone
http://undertheinfluence.nationaljournal.com/2009/02/the-national-association-of-re.php

yes This is All about the Consuemer, NOT...
Crystal L. Cox Broker Owner....

One Interesting Comment on the Above Topic

"Here's a press release from the National Association of Home Builders from early January 2009 laying out just what they wanted. You can see it pretty much made it into legislation untouched in the US Senate.

And here's economics blog Calculated Risk explaining why juicing new homebuilding when there is already too much unused housing inventory is just plain wrong.

Lieberman and Isakson are increasing supply and demand and the only people who benefit will be homebuilders and people who use the program. Existing home owners will see the value of their home decrease because of increased supply of housing, but Lieberman and Isakson don't care about that, just pandering and handing out checks to a broken industry.

It's disgusting and 180 degrees wrong for the current economic crisis .."

http://undertheinfluence.nationaljournal.com/2009/02/the-national-association-of-re.php

http://www.nahb.org/news_details.aspx?sectionID=0&newsID=8469

http://www.ajc.com/services/content/printedition/2009/01/08/obama.html

Consumer Experiences - Sellers Agreement Question... Online

2009-06-12T14:44:00.000-07:00

"Can I sue a Realtor whose actions caused me not to get a first-time home buyer
grant? I became a first-time homebuyer this past July.

In May my Realtor had me to sign a "Seller's Agreement" on the property then sent me to a housing agency to apply for an $800 first-time homebuyer grant from the city of Phila, PA.

However, if a "Seller's Agreement" was already signed before going to the housing agency, it made me ineligible for the grant. After settlement when asked by the grant agency why he had me to sign a "Seller's Agreement," the realtor lied and said I didn't need the money after all"

http://www.justanswer.com/questions/58d-suing-realtor#ixzz0IG2cfDIH&D

http://www.justanswer.com/questions/58d-suing-realtor