9 comments

• Comment Link Tuesday, December 22 2009 23:18 posted by Biweekly Mortgage Calculator

  wow, how could these people got these industry into fraudulent.
• Comment Link Monday, September 08 2008 08:50 posted by Robert

  Riley stote $50,000 from me too. We discussed and made a deal on an investment in rock crushing equipment. I even signed papers. I never saw a cent back. Then he left town, and left me hanging. I hope he gets everything he's got coming to him, like life in prison. He's a thief.
• Comment Link Wednesday, November 28 2007 15:16 posted by Michelle Kelly

  I spoke with Wendi, and she states that her article refers to the Riley character. I thought she was referring to R. Foy Phillips. But yet again, R. Foy Phillips did a lot of moving around of properties in different entities. Phillips 292 LTD, Phillips Energy RI, Phillips Energy R, R Foy Phillips...........one entity purchases and then it is granted into another one of his entities and then back in his name, etc. I smell a rat big time! Wendi, I wish you well with your company and may you re-cop everything your company lost two-fold.
• Comment Link Monday, November 12 2007 09:00 posted by Wendi

  This man stole from us too! We are a small mobile communications company in Tampa, FL. We sold him equipment and services totally approximately $1400.00. I ran accross this article in hopes of trying to find him to collect the money. Not only is he fraudulent, but mean. He sent the us on wild goose chaises in order to meet him to collect the money due to us. I don't understand how people can do things like this. So he was not going after only large companies, but small companies where $1400 could be a potential hardship. My hope is someday he will wise up and grow a conscious.
• Comment Link Thursday, October 18 2007 14:46 posted by Michelle Kelly

  In my mother's case, the Della Kelly one, who is in charge of policing this system? Most states have a real estate board in place for transactions, in which all transactions must be entered into escrow. The board has the right at anytime and audit transactions. Is there a State of Texas Real Estate Board that polices these transactions? I assume the consumer just has no protection whatsoever. The laws are in place, but they are not being inforced, that's the way I look at it. At the time my mother's transaction was going on, she did not have money for an attorney, which obviously was right up R. Foy Phillips' alley.
• Comment Link Wednesday, June 27 2007 20:55 posted by gateway

  Doesn't anyone read any documents before they sign them? Come on people stop with the blame game! Read the note, know the adjustments and periods...its all right there at signing. Did you shop for your house in 30 minutes? Then why not take your time closing? READ IT!! If it stinks don't sign it. Plain and simple. Here's your sign...
• Comment Link Tuesday, June 26 2007 13:23 posted by Vince Mullett

  I see an awful lot of help and assistance for lenders and brokers but what about the folks who were misled by unscrupulous brokers with these adjustable Mtges? My own personal situation is such that I suspect is indicative of many people now in trouble! We were told that our 1/7/10 ARM was unmodifiable (ie payments fixed at various amounts for the first, and second through seventh years. Nothing was mentioned about negative amortization, or the consequences of its 110% Cap. Indeed we were assured that there were non. I read the mortgage statements each month and sure enough the first few did not change and seemed to verify the statements of the broker. Now a year later I find that the unpaid balance (Negative Am) is around 20,000 and I am forced to pay the lender (though I'm tempted to use the word robbers)a pre payment penalty on top. All in all, with payments (we always paid More than just interest) and the prepayment we will have handed over to the lender 56,000 plus! Thats a whopping 14% return on their investment! All at my expense! And these people are a large Corporate Bank that espouses family help! I think not!
  
  When are the powers that be going to go after the enablers of this crises namely the Brokers and the Lenders!!!!
• Comment Link Tuesday, June 26 2007 12:35 posted by havensofmanhattan

  It amazing that there are so many cases exactly like this. You would think that people would get the hint that crime doesn't pay.
• Comment Link Tuesday, June 26 2007 10:11 posted by Michelle Kelly

  A man by the name of R Foy Phillips fraudulently obtained my mother's (Della Kelly) land, yet I never discovered whether he did prison time or had to pay restitution for it. My mother owned land at 6315 Theall Road, Houston, TX. He was supposed to be pay her approx. $1000.00 per month to her, along with royalty. R Foy Phillips and his company purchased the land from her at $177,000. When it was time to sign the contract, which was a huge stack of documents, and in which my mother did not realize she needed an attorney for this transaction, he had slid a special warranty deed or a quit claim deed within the paperwork and had used the sign here stickers so she would know where to sign. Being that the stack was so large, she signed everywhere there was a sign here sticker. Unfortunately, not knowing, she had just signed away her land. He paid her the $1000 per month for a year, re-sold the 6315 Theall land (2.5 acres) to someone else and then filed bankruptcy so he could not be touched. How about that? My mother had this land for many, many years, only to be swindled out of it. He not only did this thing to her, he did it to several of our neighbors.