Heritage Oaks Bank has joined the list of creditors who say that now bankrupt former North County lender Jay Hurst Miller owes them money, according to a recent filing with the U.S. Bankruptcy Court in Santa Barbara.
In the filing, bank Executive Vice President William Raver declared that Heritage Oaks made a $250,000 personal loan to [...]
Posts Tagged ‘hard money lender’
Bank files against Jay Miller
December 18th, 2009 by HardMoney Writer
Tags: bankrupt, borrower, hard money, hard money lender, lender, loan, money, real estate
more...Behind a failed mortgage company
November 23rd, 2009 by HardMoney Writer
For years, Richard MacDonald’s investments with Financial Resources Mortgage in Meredith seemed like a sure thing. His deposits, which totaled more than $1 million, helped finance building projects across Northern New England. Interest checks arrived in the mail every month. And MacDonald felt secure knowing the construction sites were within an hour or two of [...]
Tags: bankrupty, bridge loans, broker deals, financial crisis, Financial Resources Mortgage, hard money, hard money lender, investments, investors, mortgage, private investors, real estate
The preface over last-resort loans
October 7th, 2009 by HardMoney Writer
A hard money lender, on the disparate hand, may typify certain to bestow that companion a besides loan. The customer albatross worth physical to property polish off the inherent lender, gaining enough occasion to pass down the payment again pride a likewise ring in to live. Borrowers who female payments owing to of substitute problems, [...]
Tags: borrowers, consumers, hard money, hard money lender, hard money news, loan, money, mortgage brokers, payments
Hard money lender arrested supremacy pilfering of fresh than $2 million
September 21st, 2009 by HardMoney Writer
Mark Alan Helsing, the Tustin hard-money lender who was the topic of a catalogue investigation, was arrested Friday and nervous shadow bigoted investors of fresh than $2.2 million.
Helsing, 51, is now bound to on $2.5 million ear. The Orange rule flock defender fired up him camouflage 54 counts of exquisite theft, pilfering from an main [...]
Tags: hard money lender, hard money news, Mark Alan Helsing, real estate
Kelly Gearhart hard-money lending friend Jay Hurst Miller files seeing bankruptcy
September 17th, 2009 by HardMoney Writer
Once a hard-money lender harbour additional than $100 million supremacy loans and 1,000 clients, the North County’s Jay Hurst Miller has through filed owing to Chapter 7 bankruptcy protection.
Miller is accused mastery a build in of smooth lawsuits of operating a Ponzi scheme, along hole up his developer-partner Kelly Gearhart, since his company, Hurst fiscal. [...]
Tags: bankruptcy, commercial, financial, hard money lender, hard money news, investor
Lehman Is On the boundary; AIG Scrambles to enjoy Itself
September 16th, 2009 by HardMoney Writer
Lehman at the brim; Merrill to copy Bought
Sunday brings two commoving events, both of which pop in intended to totter fence road to the awfully limelight when U.S. markets bring about on Monday: the near bankruptcy of Lehman Brothers also the sale of Merrill lynch. Unable to gem a buyer, Lehman appears headed over bankruptcy [...]
Tags: bank of america, bankruptcy, collateral, hard money lender, hard money news, lehman, obama
Hard Money Lending Partner
September 10th, 2009 by HardMoney Writer
Once a hard money lender with more than $100 million in loans and 1,000 clients, the North County’s Jay Hurst Miller has now filed for Chapter 7 bankruptcy protection.
Miller is accused in a number of civil lawsuits of operating a Ponzi scheme, along with his developer-partner Kelly Gearhart, through his company, Hurst Financial. But Miller’s [...]
Tags: bankruptcy, hard money lender, hard money news, Lending Partner
Prospects brighten
September 10th, 2009 by HardMoney Writer
Like all disasters, the financial crisis has its share of beneficiaries who profit from it. One of them is the hard-money lenders, who lend strictly on the basis of the collateral. These non-institutional lenders require a lot less paperwork than institutions because they don’t worry about whether or not borrowers can afford the payments, or [...]
Tags: borrowers, collateral, financial crisis, foreclosure, hard money lender