Who has Hank and Helen's Home?

Welcome to Who has Hank and Helen's Home?

Introduction

Chadd's new haunts?

(Click to enlarge, but why?)

Friday, August 12, 2016.
Revised upon receipt of new information August 16, 1:59 a.m.
Edited without substantial change in content August 22, 10:59 a.m.

On these pages, you can get to know a little bit about the people who chose to make life miserable for a couple who'd been ill-used by their own grandson, Chadd-with-two-Ds Everett Moore. He's the first of the people, but I doubt Chadd got much more than a lifelong migraine out of life crisis he caused his grandparents. It's not clear that he meant to do harm. He seems like a first-class loser who thought he could make money if someone would just give him some to start with, but that's the wrong mindset. If you're good at making money, you make it, you don't take it. He apparently lives with his mother in Simi Valley nowadays,  anonymous sources say. Not that it's anything but noble to live with one's mother, but it's a bit of a come-down for a would-be international financier. If I were his mother I'd sleep with my pocketbook under my pillow and a deadbolt on the bedroom door.

There are photos of Chadd Moore in a mainstream news article, but I don't feel like posting them. He's just a washer, not even a cog, in a crushing money machine that treated him as badly as he treated his grandparents. The men and women turning the gears, one of whom sent an attorney to cry poor for him outside the courthouse where a judge recently postponed, for the third time, his selfish foreclosure eviction of the Kaweckis, are the bad guys. They've been slavering over the Kawecki's lovely dwelling since the day Moore made the mistake of transacting with them. (Poke around the site to see how they live.) Sure, there was a news story that says Chadd tried to sell the house at one point. That's pretty dastardly, but like his other efforts, it came to nothing. Others in the chain of events were more effective. So, Chadd be damned.

The tales is best told by the documents that were the instruments of Hank and Helen's loss. For an all-inclusive overview, you'll do no better than to visit the timeline.

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Where to start? At the end, assuming that you already knew about the elderly couple that made a terrible mistake after finding their income inadequate to their needs. Apparently unaware of reverse mortgages, and owning a million-dollar, paid-for home, they availed themselves of the next best thing. They signed their house over to their grandson. He promised to parlay its equity into some serious cashflow, affording them a healthy monthly income and himself a bit of pin money for his trouble. He borrowed against it in a series of deals with ruthless hard money lenders and lost it, quite mysteriously, when what seemed like a minor and curable default led to foreclosure. The buyer was one of the lenders. That guy sold it to a wealthy middle-aged couple and the Kaweckis moved to a trailer in a mobile home park.

The first loan. 

Artist's conception of Val-Chris
Don't click unless you want it to enlarge.

Meet Val-Chris, LLC. Val-Chris, as an LLC, seems to have oppositional-defiant disorder. The company has more stayed suspensions of license than I have ever seen for any professional entity in California. Who is Val-Chris?  Well, in spirit, it's Valerie and Christopher-Lloyd, the Boulters. (The company name is derived from their daughters' names, not from their own names, and for what it's worth, Valerie seems to have bolted.) Val-Chris was the lender that originally made a loan of $47,500 to the Kawecki's grandson. They then stepped aside and allowed Chris Tomaszewski of Coast Capital to become the beneficiary, sort of. Maybe they sold the loan to Coast, but it's hard to say. (See the paper trail. Perhaps you can figure it out.)

Val-Chris really didn't make out too well, unless they got a cut of Mr. Tomaszewski's take. They might have brought him in as the bagman; maybe they weren't in a position to foreclose. Val-Chris, with so many sanctions by the California Board of Real Estate, might have wanted to stay out of the limelight. A foreclosure might have looked a sure bet, so its possible that Mr. T paid them bit more than the loan's face value. But if all Val-Chris did was lend money to Chadd Moore, even at 10%, they would have made less than $5000, because the loan only lasted a year and Moore was in default nine months after the deed of trust was recorded.

Click with your eyes closed.

Chadd Moore and Val-Chris don't stand out as big winners in this deal, so let's consider Coast Capital, owned by the handsome and charming connoisseur of fine timepieces, Chris Tomaszewski. Wonder along with me on the question of how he got his snout in the trough, and meet his lovely wife. And he did very well. When Chadd E. Moore defaulted to the tune of $2,918.44, Chris Tomaszewski not only put the property up for sale, he bought it himself. Why he was not outbid is a question with an answer that matters. A property worth well over $700,000 does not usually sell for $89,000. It's true that there was another encumbrance, but it wasn't for $600,000.

Update: A story in the renowned Simi Valley Acorn has come to my attention. It looks like Tomaszewski borrowed $450,000 to buy the property, and has a loan payment of $6000/month. 10 years at 10%? That's his problem, not the Kawecki's. Acorn's Becca Whitnall was outside the courthouse at the end of July when a judge had just granted the Kweckis another 60-day stay of eviction. Be prepared to feel very sorry for a man who collects $100,000 wristwatches. This is what Ms. Whitnall heard:

Click to enlarge.

Realtors will eventually get their cuts, near the jugulars of the humble Kawecki's necks, but at the moment the home is not on the market. However, it was listed by a Keller Williams agent long enough for the MLS pictures to propagate into various brokerage's web sites. Below is the Kawecki's bathroom as seen on Teles Properties' web site. Their rep was not terribly forthcoming when I asked her what I thought were fair questions.

Those aren't Hulk Hogan's bath towels, folks.
Click to enlarge. 

When the home is back on the market, Chris Tomaszewski stands to turn a handsome profit, if anyone will buy the tainted property from him. I pray that not a soul on this planet will give him a red cent for it. He paid $89,000 and will have no trouble turning it around for some serious bank. (It is possible that he was saddled with the $360,000 loan that Chadd took out against the property just after he took title, but that's not documented anywhere yet, and there would still be a couple of hundred grand in profit.)* The Kawecki's home was briefly listed for $719,000  by Gregg Bruno of Keller Williams, but it is currently "off the market." Smart move, Gregg-with-two-Gs. Selling the Kawecki's former home really is not cool, and you seem like you want to be seen as a cool guy. I mean, you voted for Obama, didn't you?

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*The Simi Valley Acorn says Tomaszewski owes $450,000, so it looks like he bought the loan, and the $65,000 loan, from the lenders who made them for close to face value. Was Chadd current on his payments at the time? If so, the Polskie should be mummified after his natural passing and mounted on something tall in Times Square as a monument to greed.

A note to the Chrises of this world, be they Boulters or Tomaszewskis: 

So what if a borrower can't pay the note for a month or two? Know what? So what if he can't pay it for a year?

A year of payments is $29,000

The lender expects to take in $859,348  over the thirty-year term.

$29,000 is 3.3% of $859,348

In what other business is a discount of 3.3% such a big deal? You can get 3.6% off MSRP on a brand new Accord just by supply a false name and throwaway email address.

Of that $859,000, $359,000 is the interest, which is pretty much the profit. 

$29,000 is still insignificant in comparison. It's 8% of $359,000.

So why is Tomaszewski being such a sow about it, foreclosing instead of working something out with Moore, the Kaweckis, and their supporters? Because he can make some chump change. Enough to buy another fancy watch. Wow-just-wow. Check out his modus operandi, as laid out on LinkedIn, presumably to attract capital.

If he bought all three loans at face value, he'd have less than $500,000 in it. Apparently he borrowed to do that and has been burning $6,000 per month all summer 😫. So he sinks six grand a month for twelve months, say, if things drag on that long, and some legal expenses, and maintenance and property tax. Call it $600,000. I still unmoved by his plight. He can spray the whole thing in Swiss Coffee, call it a mid-century modern, and get $800,000 for it, easy.

If anyone will buy it. 

There aren't many Americans who would pride themselves on making a petite $200,000 by pushing paper, driving around, searching online databases and yakking on a cell phone if it meant depriving an elderly couple of their home.

Chris Tomaszewski could re-fi that putative $450,000 at 3.5% for a payment of $2021/month, lend Chadd the same amount at 4.5%, and vigilantes could make sure Chadd never goes near the place, leaving Hank and Helen in place and accelerating the note after they both have gone to our Maker. He be forever associated with this story regardless of how it ends up, so why not use his great and mighty brain and come up with a solution where Chadd pays, he breaks even, and the Kaweckis are no longer crime vicrtims? It's entirely up to him in this great free country.