April 29, 2007

Kulwinder Singh, Su Casa, and the $2,500 condo

San Jose Mercury News – S.J. condo `buyer’ faces ruined credit in questionable deal
In a written complaint to the San Jose Police Department on Jan. 29, Singh reported that he agreed with two Su Casa agents, Natrian Maxwell and Felipe Neri, to accept $2,500 for “signing

a house under my name” last May while working at Century 21 Su Casa’s Fremont branch office. He told police he was promised that his name would be removed from the property a month or two later, that the home would be transferred to the real estate company and that they would be “responsible for everything.”

[snip]

Public records show that Singh bought a condo on Saddle Rack Street in San Jose in May 2006, borrowing the full purchase amount of $579,000 from a subprime lender, Fremont Investment & Loan. His initial payments were to be $4,780 a month.

He paid $30,000 over the asking price, according to the listing agent’s Web site and real estate records.

The deal generated $28,950 in commissions for Century 21 Su Casa, according to Singh’s settlement statement. The statement also listed a $20,000 payment from the seller for repairs to the 2-year-old condo.

Singh said in an interview that he only dealt directly with his boss, Maxwell, throughout the transaction. Real estate documents indicate that Maxwell was the agent on the deal.

Singh’s loan application, prepared by Mariposa Mortgage, claims he is 20 years older than he is, earns $12,500 a month as “co-owner/manager” of Neri’s Transportation Services in Newark, a job he supposedly held for 2 1/2 years, has $24,000 in a savings account, $8,500 worth of jewelry and $19,000 in other assets and drives a Toyota Tundra truck worth $37,000.

Singh said that after asking Fremont Investment & Loan for the documents, he was surprised to see those claims on the loan application, though he signed it at the time.

“I’m like, God, I don’t have any of this. And $24,000 in my account? That’s completely insane,” Singh said in an interview. He said he had never heard of Neri’s Transportation. State records show the president of Neri’s Transportation Inc. of Newark is Felipe Neri.

[snip]

Foreclosed on in March, Singh’s condo is for sale again for $509,500 – nearly $70,000 less than he paid.

Sometimes you can’t make this stuff up.

Comments (24) -- Posted by: burbed @ 11:40 am

24 Responses to “Kulwinder Singh, Su Casa, and the $2,500 condo”

  1. wenyue Says:

    t is offering at $499,990 now

  2. wenyue Says:

    It is offering at $499,990 now

  3. Lisa Rogers Says:

    I work in real estate loans. I work with honest companies only. We have closed hundreds of loans, and there are no defaults. We don’t do real estate. We turn away loans if they don’t make sense or the clients don’t have the ability to repay.

    Since I have access to the MLS (because of an appraiser friend), I decided to do a little checking into the girl Geraldine Nunez, who thought that was so “unbelievable”. The lenders (the bank that the broker submits it to) do call the employers to verify employment. Obviously that Neri Transportation is probably a made up business so that they can create higher paying jobs for their clients. Since there are so many banks out there, they are probably submitting to different banks, so they won’t catch on.

    for Geraldine Nunez of Su Casa…Look at all the sales where she represented the buyer that are lost in foreclosure….(more than likely, Mariposa Mortgage did the loan…which these companies are all related…Some of them weren’t owned for very long before they defaulted…

    Her past sales and ( she was the last one to touch it); here’s their current situations…:

    92 Harriet (in process of short sale)
    3167 Arcola (foreclosure and listed)
    3327 Sylvan (Bank owned_
    3025 Three Springs (foreclosure)
    4020 Soelro (foreclosure)
    8540 Delta Gilroy, CA (Listed & a Foreclosure)
    136 Cragmont (LISTED AND A SHORT SALE)
    1530 Hillview (foreclosure)
    816 Madera (foreclosure)
    415 Gridley (bank owned)

    Felipe Neri also has about about 9 foreclosures under his belt, there’s probably more to come. The clients may not say anything because they may know what was happening…

    600 B Street
    1434 King Road
    1467 Foley
    1551 E San Antonio408 Capricorn
    4992 Omar Street
    36107 Bayonne575 Marge
    1652 montevideo

  4. MiCasa Says:

    Here you have an overview of what is going on with Felipe Neri, Bic Pho and “Su Casa” with some comments to the story:
    http://micasamidinero.com/myhome/2007/sanjose-broker-fraud/

    And here is my lates post regarding the recent arrest of one of the top real estate agents from “Su Casa,” Gloria Alvarez:
    http://micasamidinero.com/myhome/2008/alvarez-su-casa-arrested/

  5. Jennifer Hu Says:

    A similar situation happened to me. I was tricked into “having a house under my name for a few months”. And all of a sudden found out I owned 1 house and 1 triplex in Stockton. I never signed or saw any documents and now they have gone under forclosure. The people who scammed me were Simon Dante Lopez Jr. from Mariposa Mortgage and Pete and Anna Flores from Centry21 Su Casa. They lied about my income, and also said i worked for one of the centry21 Su Casa “fake business” like a trucking company! Where can we get help and justice! Now my credit is ruined and I have Tax issues. If there is anybody out there to help, please reply if anybody can help me I’d appreciate any advice.

  6. anon Says:

    And, by “scammed me,” you mean they paid you money to sign your name on a real state deed, right?

  7. Jennifer Hu Says:

    I never signed my name on any document nor did I ever see any documents. I did not know there was forgery involved until it was too late. I didn’t even know there was a transaction taking place! When I ran a credit report I noticed 2 home loans under my name and I was furious and sick. I confronted him and he said the only thing he could do was give me 9 or 10 k to try to make up for the troubles he caused. The money turned out to be ill-gotten. This person was somebody I considered a “friend”. He was with me when I went to buy my car at Honda and I suspect that is when he got my SS# while sitting next to me.

  8. Pralay Says:

    When I ran a credit report I noticed 2 home loans under my name and I was furious and sick. I confronted him and he said the only thing he could do was give me 9 or 10 k to try to make up for the troubles he caused. The money turned out to be ill-gotten.
    —- —

    When some uses others SSN, it is called identity theft – a felony crime. Instead of reporting it to proper authority, seeking legal help and resolving the issue with the help of rules and laws of the land, you decided to accept the money (bribe).

    What if you witness a murder and murderer happens to be your friend? He offers you 10K for not speaking up. Will you keep your mouth shut and not to report police?

    You have no sympathy from me. You got what you deserved.

  9. Real Estater Says:

    The victim got what she deserved. No sympathy from a rentard, indeed.

  10. Pralay Says:

    The person who takes bribe is no longer just victim. She is an enabler. Being victim is irrelevant. A crime is a crime. Just read the murder analogy. A person who does not understand the difference should be called Realtard(TM). Oh, yes I forgot, some Realtards are ok with commiting crimes and advising others for committing crime. 🙂

  11. Real Estater Says:

    Quote of the day:

    >>Being victim is irrelevant.

    Author: Pralay

    Wow, I suppose a rape victim is an “enabler”. A crime is a crime! Is this 17th Century India?

  12. nomadic Says:

    You’ve reached an all new low, Real Excreter. I wouldn’t have thought it possible. Congratulations.

  13. Pralay Says:

    Wow, I suppose a rape victim is an “enabler”. A crime is a crime! Is this 17th Century India?
    —–

    LOL! RealExcreter’s analogy is amazing. Part of his brain must be melted in Austin heat.

    RealExcreter, although absurd, but closest analogy would like this: someone get raped and he/she does not report to police because the rapist paid $10K or $9K to “make up for the troubles he caused“.

    Did you ever wonder why those two lawyers did not take up her case? Because she accepted the bribes. And those lawyers are better educated in law than you, RealExcreter.

  14. Real Estater Says:

    Pralay,

    There’s nothing more amazing than your argument. Part of your brain must be melted in spicy curry. Let’s take a look at Jennifer’s statements:

    I never signed my name on any document nor did I ever see any documents. I did not know there was forgery involved until it was too late…I confronted him and he said the only thing he could do was give me 9 or 10 k to try to make up for the troubles he caused. The money turned out to be ill-gotten. This person was somebody I considered a “friend”.

    Exactly what part did she “enable”?

  15. Pralay Says:

    Exactly what part did she “enable”?
    —-

    I am sure your kid would have understood lot faster. Did you read the line “the money turned out to be ill-gotten”?

  16. Real Estater Says:

    Pralay,

    Let’s say you’re a crook living in a rental. Do you think your landlord would necessarily know where your money came from?

  17. DreamT Says:

    “Do you think your landlord would necessarily know where your money came from?”

    The question really is: can you afford to wait until the next day to go to the bathroom? Even as a crook?

  18. Pralay Says:

    Let’s say you’re a crook living in a rental. Do you think your landlord would necessarily know where your money came from?
    —–

    Let’s say RealExcreter bought a duplex and plans to rent out them to two different families, but he does want to pay tax for one of these two rental incomes (as he mentioned here). So he asked second renter: “I don’t want to pay tax, so please pay me rent in cash.” Do you think the renter is enabler of RealExcreter’s tax-evasion crime?

  19. Real Estater Says:

    Pralay,

    Your dumb example is invalid. Did Jennifer Hu’s friend tell her, “I’m going to give you some ill-gotten money”?

  20. Pralay Says:

    RealEstater,

    Your dumb example is invalid. Acceptance $10K and $9K checks by Jennifer Hu is ill-gotten.

  21. Real Estater Says:

    Pralay,

    Does the money have “ill-gotten” printed on it when Jennifer received it or what?

  22. Pralay Says:

    It’s irrelevant how his her friend got the money. Jennifer accepted money. It was form of a bribe to keep her mouth shut. She shouldn’t have accepted it.

    Jennifer already consulted with two attorneys and both said her case is “hopeless” due to acceptance of money. A simple question to you: why do you think those attorneys think so? Because they are less aware of the law than a Realtard like you?

  23. Pralay Says:

    Ignorance (of law) is bliss. It’s was bliss for Jennifer Hu. And it also bliss for RealEstater when it comes to tax-evasion.

  24. Can someone help Jennifer Hu with Century 21 Su Casa and Mariposa Mortgage? [Burbed.com] Says:

    […] Kulwinder Singh, Su Casa, and the $2,500 condo | SF Bay Area Home Price and Mortgage Insanity Blog &… Jennifer Hu Says: July 22nd, 2009 at 2:25 am […]


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