Mother fraudulently used Credit

H and V- in re: to spec house

Here is what I am trying to get up the courage to do. House really is on same street where my sister lives, LOL!!! So I thought about calling the realtor, and saying - this is xxx, my sister lives on xxstreet in xx Country Club and says there is a house I ought to see, and I looked it up on MLS - #xxxx, your listing . . . we are thinking about moving back to XX "Small Incestuous Town" LOL, and I am curious about house. (then talk about it and features, etc). Then say at some point - well my sister said she didn't know if this is true or not, but that someone in the neighborhood had said this was a spec house that had not sold and had renters in it. Is that true?

And then ask "Well who was the builder?" She may only have the contractor's name, but worth a try.

And no, my sister does not have any idea who is in that house (and she is not going to put herself out to find out, either).

 

I will let you know . . .

if I get my courage up this evening, LOL!!! As you all have said previously - "Nothing ventured, nothing gained."

 

We got lucky on that . . .

There are 7 pix w/ the listing, for the interior! And all appliances stay!!! This is really nice home - here in the South, $480,000 buys you 5 bedrooms, very luxurious master suite, granite counter tops, stainless steel appliances, wood/tile floors, .44 acre . . . and this house even has a walk out basement and on golf course.

I am pretty sure this is rented out, b/c the window treatments and furniture in the pix looked very lowscale (okay-cheap) and not at all what you would expect from anyone who would have this type of home.

 

Well, that would work . . .

but we know Mom and S/dad are not living there . . .they are living in another house (we know where they are). Someone is living in the "spec house" and we are assuming it has to be renters . . . b/c the house was not finished til last year . . . and it would be odd that someone moved in and then already selling (but it does happen). Plus DOT shows Mom and s/dad as current owners of property. Also, looked up prop. taxes - and they paid taxes on it this year.

Yeah - I could go to the county register of deeds or tax collector's office (or both) and get better info than online but don't want to have to spend a day digging this stuff up, so was hoping to find out if renters are in the house . . . by making a phone call to realtor who has the house listed. But I may end up doing what you suggested, and having to dig up the info through a hands on search of public records.

I am still trying to get up the nerve to call the listing agent, LOL.

Geeeeezzzz . . . nothing is easy w/ all this. Poor C has been pacing hoping she would receive a FedEx packet from the brokerage today. Just FYI - no packet and it is 5 pm here now, so . . . if no package tomorrow, I am going to assume they sent it snail mail . . . to drag this out.

FYI - C. sent off her letter "memorializing" her phone conversations w/ the Ops Mgr on Friday (registered - RRR). It was a strange letter, as I wanted it to sound like C was being complimentary to the Ops Mgr. for how she was handling things, and didn't want it to be "in your face" but rather - kind of naive - and still document info. I figure the "aggressive" letter should come from an attorney at such time it is determined we have enuff put together - to make a case that violations have occurred . . . Maybe I should have had you all review it b/f it was sent . . .

 

V - makes sense to me

Searchbug is a great website! It didn't pull up a phone number for the address in question, but I looked up some other stuff while there - thank you so much for sharing that site!

It is so important to have clearer minds than mine thinking this stuff through. Of course I am supposed to know that taxes would be in the person's name who owned it as of Jan 1st!!! I just never even connected that while looking at the records! Thank you so much for getting me back on track.

If I don't get the nerve to call the listing agent tomorrow - I will definitely send an email, as you suggested.

I really did try to get other things accomplished today, but this is weighing heavily on my mind. I am gonna be so ready for a Thanksgiving break.

This year, I have something extra to be grateful for - all the great suggestions, brain storming and support on this forum.

 

they do have another home

I have found the additional home, LOL. It is located in another county of NC. However, this was no big surprise as C's g/parents owned the house and we had suspected they had turned title over to C's mother. The house is in bad shape . . . more a cottage . . . but the value of the land it is on - I would estimate to be about $80,000. (based on comps) Titled in both Mom and s/dad's names.

V - you are very good at this!!!!

 

Update - C got info from brokerage

C just called me, very upset. She got the packet.

Packet contains year end statements from 2000.

Okay, guys, what next. C and my son will be here for Thanksgiving, so DH and I can go over what scarce info has been provided.

In 2000, there was $75,000 in the account. If I have the timeline correct, that is the year when Mom married s/dad.

My first thought is - failure to comply to provide information. C asked for info FROM INITIATION of account - complete accounting history.

Do we write a letter to Compliance Officer of company? Forget screwing around w/ these people and contact an attorney?

Help me sort this through. C is terribly upset. To see her account being ripped off that much in recent years - outrageous and no way anyone can justify it. I just know money went to buying those lots so s/dad could speculate w/ those houses. (One house they lived in and sold; the other one now for sale). AARRRGGGHHH. And no telling how much was taken out prior to the $75,000 that was in the account at year end in 2000.

Of course, that is why the brokerage did not send earlier info. I have a feeling it was quite a sizeable amount. I can track this by seeing how much was in there prior to the purchase of the lots, how much was spent on lots - and make some type of assumption based on that alone. But I can't track it w/o records that pre-date 2000.

Suggestions? Ideas? How to proceed . . . need some brainstorming . . . advising C to just take deep breaths (as I am) cause this is not NEW . . . and we have to stay calm . . .

 

More info . . . complications . . .

C just got a call from her g/father - this is her paternal g/father - NOT the g/father who set up the account.

Paternal g/father reveals that prior to 1995, his son (C's dad) informed him that wife's dad (maternal g/father who set up acct) was taking $35,000 out of the trust account to do a renovation in one of his businesses. C's dad was quite upset about this and did not want this to be allowed. So he talked to his dad and they agreed this was not kosher. C's dad insisted it be handled as a debt and C's g/father is saying that somehow, a debt was noted on maternal g/father's taxes. (????) have no clue as to what this means. Please note: this business has since been sold.

Okay. Further complications. Paternal g/father also says that Maternal g/father MOVED THE ACCOUNT to the present brokerage. He thinks this move was made around 2000, wh/ would mean that indeed, the brokerage we are dealing w/ now only has records back to that time. We have no clue what brokerage held the account prior to that time.

Paternal g/father wants to call SEC. I have advised let's hold off til we get this all put together. C says she thinks her paternal g/father is just calling to get info, not spill the beans on this particular account right now.

Staring on timeline as suggested. Also, have already started deciding about the attorney to contact. I think over T'giving, we need to have a family meeting, if only via conference call, w/ C's paternal grandparents as they are willing to get involved and since it is their son who is her dad . . . seems they have every right to step in on C's behalf. They would surely have more legal standing than I do.

Won't the current brokerage be able to tell us where the fund was transferred from???

 

C is right w/ you on this . . .

As things are now unfolding . . . I have suggested that since maternal g/father raided the account while she was still a minor, and there is no way to recover that money from him b/c he is penniless now and has sold the business wh/gained from the infusion of C's trust money . . . that she consider putting a cloud on the title of the resort house that g/father gave Mom and s/dad title to recently. I think we will have no problem proving that Mom and S/dad also raided the coffers. Seems any court would see that the logical reparation is this house, as its present value (in run down condition) would probably be about equal to what the account would have in it presently if g/father and mom had not raided it. The house is located near the college C attends. And the title shows clearly that it was held by maternal g/father and then recently turned over to daughter (C's mom) C says the reason he did this was the bank was going to seize it as an asset - I have no idea whether or not this was part of a BK settlement or what. ANyway, he transferred title to avoid anyone else seizing the property.

Mom and s/dad will go bananas as they are trying to find financing AS I WRITE to have someone tear down the existing house and build a new one on that property.

I do have an attorney I have used for real estate transactions in the town where this resort property is located. Tell me what to do to get the ball rolling so we can put a cloud on that title so C's mother cannot proceed further w/ their plans to tear down the house.

**Varinia** are you reading this???? Ideas????