Re: The Porter case: Here is what went wrong. - Posted by GL(ON)
Posted by GL(ON) on July 14, 2002 at 09:02:30:
All right. If she purchased homes from people, then did not make the payments, and the banks are going after the sellers, what happens to the buyers? Will the bank let them stay? Will the sellers let them stay? Will they get credit for the money they paid Porter even though she never paid the bank or the sellers? The H— they will.
I believe those people are in a serious situation, in danger of losing the house and losing the money they paid. The bank can certainly foreclose if they are not paid, and they can call the whole mortgage balance due and payable under the due on sale clause.
The seller could pay off (or refinance)a house they don’t want don’t need and thought they sold long ago. They could then sell it or rent it to the buyers, who they don’t know and have no legal obligation toward. That would be nice, and it would be the nicest solution. But how often is that going to happen?
This puts the onus on the buyer if they wish to keep the property, that is why they must suddenly pay off the mortgage or get a new one, and most of them can’t. That is why they are losing their homes, even if they lived up to their deal with Porter and never missed a payment.
The article states this clearly.
The article also states that she has been involved in 27 lawsuits in Summit County alone since 1999. This is before the bankruptcy mess even started.
This and other facts given in the article spell out a pattern of shady dealing going right back to the start.
If she were honest she would have cleaned up her mistakes long ago and not repeated them. Instead we have a pattern of lies cheating and evasion.
Maybe the story is a phoney. I can’t prove it isn’t. All I know about the case is what was in the paper.
Reading the article as a whole I get the impression of someone who was scamming everyone in sight (including her “trustees”, one of whom was in a nursing home and never saw the documents she signed with their name).