UPDATE: BAR-K LOSES REAL ESTATE LICENSE AGAIN – SEE STORY AND COMMENTS

Note:  The following has been re-posted by request.  The original was posted on September 18, 2010.  New information has been provided in the comments section below.  Barney’s license is/was listed as ‘Salesperson’, not ‘Broker’.

Another day another doc.  Click HERE and scroll down to page 8.  Look in the middle column near the top.

Barney Joe NG (Real Estate Officer – “REO”) and Bar-K (Real Estate Corporation – “REC”) were suspended by the Department of Real Estate for a 2832 10177 (d) violation.

On page 5, you’ll find disciplinary action definitions.

  • A 2832 is for “Failure to comply with trust fund handling provisions.” 
  • A 10177 (d) is a “Violation of real estate law or regulations.”

These violations were effective 10/31/01.  Barney and Bar-K were suspended for 180 days, but the suspensions were stayed on terms and conditions.  No word on what the terms and conditions were, but it does highlight a disturbing trend of questionable actions.

Advertisements

5 thoughts on “UPDATE: BAR-K LOSES REAL ESTATE LICENSE AGAIN – SEE STORY AND COMMENTS

  1. Bar-K – REVOKED – http://www2.dre.ca.gov/publicasp/pplinfo.asp?License_id=00528328andBarney Joe Ng – RESTRICTED – http://www2.dre.ca.gov/PublicASP/pplinfo.asp?License_id=00464238andKelly William Ng – CANCELED – http://www2.dre.ca.gov/publicasp/pplinfo.asp?License_id=00641921Looks like the Ngs are out of the real estate sales business in California. Sure would like to know the specific reasons behind the adverse action(s).

  2. What does Bar-K need a real estate license/salesperson/broker for anymore? RE Loans, RE Reno, and Mortgage Fund '08 are out of business. Didn't you read the notice that they (the Ngs) aren't in the investment or real estate business anymore? They (the Ngs) haven't a clue what to do.Weissenborn and Mackinac are now responsible for liquidating the fund for the sole purpose repaying the LOC loan to WF.They're even going to prolong the whole thing by borrowing another $20 million so that they can stay in business for a couple more years and make MILLIONS of additional dollars while the Investors/Noteholders end up with exactly what we have today. Nothing.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s