Foreclosure Business: Six Million Dollar Foreclosure Hanging Over Daytona Estate
Filed under: Foreclosure Business
Mori Hosseini, one of the big names in the world of land development being president of ICI Homes. The latter is one of the giant property developers dealing with projects coming up in the Volusia-Flager region and other localities. Hosseini has filed a foreclosure suit against another developer couple – Felix Amon and his wife Ursula. The tussle is over a large tract of land lying vacant near River Halifax, in South Daytona. Amon and Ursula stood guarantees for a debt taken by Madeira South LLC. The tie up is over ownership of land and controlling interest. The plot in dispute stands between U.S.1 and Palmetto Circle close to River Halifax. Madeira South had jumbo plans about developing the waterfront and building high-rise condos with towers, retail chains and a marina on the adjacent tract. But with the slump in the real estate the plans are as good as dead, says Felix Amon.
Hosseini filed his suit in the 7th Circuit Court in Del demanding back the loan of $6million together with interest and costs. The total amounts to something more than $7 million. Amon claims that he does not know about the lawsuit or about the fact that Hosseini owned the mortgage and the note on the land. The couple had met Hosseini only once and that too recently when the latter contacted them about taking control of the debt. Hitherto they had had no interaction with him.
Hosseini claims in his suit that Madeira South gave a $6 million promissory note to Nevada based Caliente Holding L.P. in March 2006. Few months ago Hosseini bought Caliente. He acquired the debt at a discount because the project had come to a premature halt. Looking at it from all angles Hosseini did not think that it was actually a discount. The note was now transferred to another Hosseini company named Madeira Recovery LLC on the day the suit was filed.
Another Amon firm, RX Realty Inc (operates RE/MAX Realty), has of late filed for bankruptcy protection from its creditors. It may be noted that RE/MAX Realty based in Daytona Beach is not related to any other agency with a similar name in this area.
The general picture from this imbroglio is that both small and big fish are getting caught in this net of foreclosures causing adverse reaction on the national economy.
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February 28th, 2008 at 4:15 pm
Extortive Legal Tactics; Above The Law?
I thank god for providing me with the vigor, tenacity, determination, and support of my wife, family, staff, and friends to endure this fight. I have lost/spent $3.5 million in defending the truth (as an innocent, uninterested 3rd party) in these transactions.
The plaintiffs came to our company– could not qualify for any type of refinancing transaction. The plaintiffs admitted their credit was “jacked up, foreclosure was imminent, and they had not filed federal or state taxes in 5 years.” Mr. Johnson could not maintain a job. They requested their way up the chain of command to my office. With tears streaming out of their eyes, begging me for help, I refered them to 6 different investors whom purchased their home and assisted their needs.
All laws were governed. Each investor was/is upstanding citizen in the community. It was only after they stopped paying by several months( each plaintiff by more than 6 months in default), did the plaintiffs lose their memory and decide to sue me because they thought it would be an easy “shake down”. There were 6 cases total and out of them 3 plaintiffs were part time loan officers which worked for my company, 1 former high school football coach, 1 director of a school, 2 ministers, 1 former legislative aid, all were in foreclosure multiple times in the past, and most were college graduates. They all forgot they sold their homes and attended a real estate closing with an attorney, whom also explained they were selling their home to them. Each and every step was explained by the investor and documented in writing. These plaintiffs were savvy enough to not make payments for years, obtain assistance, and then outright lie to further their cause. It does not take even a 5th grade education to determine the truth of these transactions.
The newspaper, local, and national television refused to air the documented truth. I have been on/in Nightline, CBN, national magazines, and newspapers and not once has anyone agreed to release the truth about the benefits these plaintiffs received (cash, ability to stay in home, debt consolidation, the entire transaction being in clear and plain english). Although, a list of people were provided to the media, they neglected to air how they successfully puchased their homes back. The documented inaccuracies were overlooked. The Virginian Pilot’s writer, Michelle Washington has had ’several bites at the apple’ to tell the truth. She has known Atty Bullock for years— she wrote an article about her several years ago, but this should not cloud her ability to run an unbiased article.
No one has ever questioned the beginning complaint from Mr. Sally. Mr. Sally has 18 inaccuracies on his original loan application to refinance. He admitted providing pay stubs, W-2s, tax returns and supporting documents to further the loan process, in depositions. When determined all documentation provided by Mr. Sally to Brian Smith (WVEC sportscaster) p/t loan officer that originally brought Mr. Sally to D and D, the authorities were notified. Very, very quickly the F.B.I. contacted us for their investigation regarding Mr. Sally. We cooperated and gave them copies of all documentation and fraudulent documents provided by Mr. Sally. We were cautioned by the agent not to disclose any information or we may be charged with obstruction of justice. Mr. Sally is no stranger to foreclosure (he has been in it 5-7 times) and his most recent bankruptcy was dismissed because his refusal to show up and answer the federal judges questions about his questionable tax returns. Mr.Sally shows 5 dependents/children on his taxes but has admitted under oath to not having any biological children or custody or control of any either. The payroll service ADP has never had any record of Mr. Sally or his company with their company. Atty. Bullock was/is aware of all her clients lies and inaccuracies and yet still wastes valuable court time, my attorny’s fees, the investors time and money. How? Atty Bullock has even attended depositions with Mr. Sally and yet did lie about the transaction on national television!
The plaintiffs were represented by the same attorney, whom destroyed my otherwise successful 15-year career for simply trying to be a good christian and help my fellow man. Atty Tanya Bullock has been directly/indirectly involved with my total demise (IRS, Bureau of Financial Institutions, Virginia Employment Commission, Chesapeake Commonwealth Attorneys Office, etc…) Atty Bullock has refused/ignored all requests to retract lies she has told in the media or in the courtroom.
Before I met Tanya Bullock our company had never had a complaint with theBBB or any other regulatory body and I have been responsible for the origination of tens of thousands of loans in almost every state in our great nation. Laws need to be created to protect honest business people from overzealous/young attornys trying to create a name for themselves at any cost, even if they have to manufacture lies and destroy peoples lives to do so. I now have several pending foreclosures, had to sell all valuables, and almost lost my family (which really is the only thing I treasure on earth) to vindicate my family and our company. The truth can stand alone if it can ever get out.
And yes, I was charged with practicing law without a license for a deed being prepared in our company. I took full responsibility for all actions of the company while under my control. The honorable judge took it under advisement and the charges will be eliminated after a 24 month term. I have had a partial ownership interst in 3 real estate title/settlement companies and apparently no one in our organization was aware that deed preparation could only be completed by an attorney. The judge said himself, “you would almost have to be an attorney to know preparing a deed had to be done by an attorney.”
Finally in closing, I am sure there are unscrupulous characters who take advantage of the unsuspecting consumer but that would not be W. Mike Robinson, Valeria A. Robinson, or D and D Home Loans Corporation. The depositions are public information and sworn testimony. Maybe the media may want to actually do their jobs and research the truth instead of airing flagrant untruths to obtain ratings and sell papers. As a matter of fact I have a list of attornys whom actively act as investors utilizing this exact same “legal transaction.”
We need to pray for those that have no other way to excel than to lie, if someone lies- then they will cheat, if someone cheats- then they will kill! Life is to short “treat people the way you wish to be treated!”
Respectfully,
W. Mike Robinson
(757)962-5677 office
(757)377-9421 cell