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RE LOANS FILES FOR BANKRUPTCY PROTECTION

RE Loans filed for bankruptcy.  While this was inevitable, no doubt, it’s still a shock to the system.  Despite the fact that it’s our money, our lives and our futures, the real bankrupt entity is the Ng Family Dynasty.  They’re morally bankrupt.  They’re ethically bankrupt.  Yet they’re still out there doing business and tricking more suckers like us out of their hard-earned savings.

Maybe Led Zepplin said it best in “When the levee breaks”

If it keeps on rainin’, levee’s goin’ to break,
When The Levee Breaks I’ll have no place to stay.
Mean old levee taught me to weep and moan,
Got what it takes to make a mountain man leave his home

Equitatus posted the following a few minutes ago: Continue reading

Assignments to Wells Fargo Foothill

A quick search of the Harris County (TX) Clerk’s Office website shows that RE Loans assigned its interests in the Bravo Marshall development to Wells Fargo Foothill (pasted below).  It’s not difficult to track down these assignments to WFF.  REL noteholders were led to believe that each and every loan was assigned to WFF.  Is this the case?  If not, why would B-4 Partners exclude certain properties from the deal with WFF?  If there were certain properties not assigned to WFF, where did they go and who got them?  Could they be viewed as preferential payouts to preferred investors?  What makes one investor more important than another?  If this happened, B-4 could be much more ethically challenged than we imagined.  As we methodically work our way down the list, loan-by-loan, we’ll see if this is true. If anyone has information on this subject they care to share, please do so here.

File Number Description
Type
Vol. Pg.
Names File Date YYYYMMDD Sec.
Lot
Block
Misc.
Pgs Film Code
20080153115 SEE INSTR
ASSGN
Grantor: RE LOANS LLC
Grantee: WELLS FARGO FOOTHILL LLC
20080328

9 RP055290556
20080433825 SEE INSTR
SUBORD
Grantor: RE LOANS LLC
Grantee: BARRINGTON SEC 2
20080819

2 RP059241310
20070467886 KINGWOOD LAKES SOUTH
ASSGN
Grantor: RE LOANS LLC
Grantee: WELLS FARGO FOOTHILL LLC
20070801 01

INSTR

5 RP047860917
20090113699 BARRINGTON SUBDIVISION
PT REL
Grantor: RE LOANS LLC ETAL
Grantee: BRAVO MARSHALL COMMUNITIES LP
20090319 01

B0002
INSTR

5 ER010971715
20090113702 NO 096693Z
REL
Grantor: RE LOANS LLC ETAL
Grantee: BRAVO MARSHALL COMMUNITIES LP
20090319

5 ER010971720

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