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
Technology is really amazing these days. Back when I invested in RE Loans, the internet wasn’t what it is today. Now, a simple Google search turns up some really incredible information.
Read this story about Michael Ohayon & David Papera. Then scroll down to the comments section and check out the posting made by my favorite internet poster of the month, AnotherNgVictim. If you check the 2009 (de)valuation document written by Mary Ann Lerch, you’ll spot Loan Number T0467. Loan Number T0467, as Lerch states, is “REO. Property is owned by R.E. LOANS, LLC (3XS, LLC).” 3XS, LLC is a registered business in the state of California. The Agent For Service Of Process is none other than Michael Ohayon. The comments made by AnotherNgVictim do a great job of pointing out the NGs history of doing questionable deals with crooks (see All American Bottled Water in Tumwater, WA).
AnotherNgVictim does us another favor by walking us through some of the history regarding the NG reign of terror.
Finally, AnotherNgVictim draws attention to some happenings in the Aloha State (click here for some pretty jaw-dropping information) that certainly confirm what many already presume to be true, i.e. that Barney loaned money solely to collect fees and points from every side of the deal, that this whole thing is a shell game being played to enrich a select few and, of course, that we’ve been snookered because none of these investments are the “safe” investments promised to us by Walter and Bruce.
I will continue my search for information and, more importantly, truth. It’s about time people actually realized who the NGs are and what they’ve done to us. They owe each and every one of us a staggering amount of money that we’ll likely never see in this lifetime.