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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Conspiracy Theory Posted by Ted on April 29, 2008 at 9:05 AM In Reply to: Conspiracy Theory posted by Tom on April 29, 2008 at 5:37 AM Tom, this is no conspiracy theory. Call BK attorney Michael Koch @ 619.299.2199 and find out for yourself. He clerked for years for a Chapter 13 Trustee here in San Diego. He will confirm the trustees work off commission as well as the legal theory a few of the trustees are pursuing. He can name the 3 trustees that are "investigating" the theory right now. Regarding escrow officers, they will confirm a lack of recorded interest is very common b/c when they request a payoff during a sale sometimes the only way they can find the current noteholder is by contacting the original lender on title. Have a nice day. - Ted : I never heard that BK trustees worked on commission theory, but I suppose that they might be paid on a percent of the estate gross similar to estate attorneys. The scenario you outlined is the way any imperfected interest on a commercial loan would be treated. Any assets not secured go to the pool to be disturbed to unsecured creditors. So I don't believe in your conspiracy theory. The reason you don't hear escrow officers talking about note assignments is that notes sold in bulk are transferred directly w/o the use of escrow. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Tom, this is no conspiracy theory. Call BK attorney Michael Koch @ 619.299.2199 and find out for yourself. He clerked for years for a Chapter 13 Trustee here in San Diego. He will confirm the trustees work off commission as well as the legal theory a few of the trustees are pursuing. He can name the 3 trustees that are "investigating" the theory right now. Regarding escrow officers, they will confirm a lack of recorded interest is very common b/c when they request a payoff during a sale sometimes the only way they can find the current noteholder is by contacting the original lender on title. : Have a nice day. : - Ted : : I never heard that BK trustees worked on commission theory, but I suppose that they might be paid on a percent of the estate gross similar to estate attorneys. The scenario you outlined is the way any imperfected interest on a commercial loan would be treated. Any assets not secured go to the pool to be disturbed to unsecured creditors. So I don't believe in your conspiracy theory. The reason you don't hear escrow officers talking about note assignments is that notes sold in bulk are transferred directly w/o the use of escrow. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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