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SLO mortgage lenders file personal bankruptcy

By   /  Monday, November 8th, 2010  /  Features, Top Stories  /  Comments Off on SLO mortgage lenders file personal bankruptcy

The former president of now-defunct mortgage lender Cameron Financial Group has filed for personal bankruptcy, listing $33.1 million in debts and $2.6 million in assets. E. Shannon Faries and his wife, Olivia Faries, filed for Chapter 7 bankruptcy on Sept. 29, listing mostly debts from their now-bankrupt company, which was based in San Luis Obispo. Read More →

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New suit hits Brooks Institute

By   /  Monday, November 8th, 2010  /  Top Stories  /  Comments Off on New suit hits Brooks Institute

A former Brooks Institute of Photography student and his family are suing the school’s parent company and lender Sallie Mae, alleging that after he defaulted his student loans ballooned from $120,445 to more than $227,000 based on hidden terms and fees. The former student, Todd Marek, is suing Sallie Mae and two debt collectors in Read More →

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Hertel partner files $128M bankruptcy

By   /  Friday, October 29th, 2010  /  Real Estate, Top Stories  /  Comments Off on Hertel partner files $128M bankruptcy

Almost two years after Ventura-based developer R.W. Hertel & Sons was forced into bankruptcy by its creditors, one partner is left holding the bag. Bob Fowler filed one of the largest personal bankruptcies in tri-county history on Sept. 26, listing $127.6 million in debts. Of those liabilities, $105.6 million are personal guarantees Fowler made on Read More →

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Foreclosure freeze won

By   /  Monday, October 25th, 2010  /  Real Estate, Top Stories, Tri-County Economy  /  Comments Off on Foreclosure freeze won

As the nation’s largest home lenders continue their self-imposed foreclosure freezes, economists in the tri-county region say the residential real estate market’s search for the bottom is being delayed. The Tri-Counties had more than 1,200 homes in foreclosure at the end of the second quarter, according to information from research firm DataQuick. That’s up more Read More →

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Foreclosure fiasco’s ground zero: Ventura County offices churned out paperwork

By   /  Monday, October 25th, 2010  /  Top Stories, Tri-County Economy  /  Comments Off on Foreclosure fiasco’s ground zero: Ventura County offices churned out paperwork

Ask her how many foreclosure documents she worked through in a day at Countrywide Financial Corp., and Linda Martins-Mann says the pace was fast. “I didn’t count how many I processed, but it was a lot,” she said. “Maybe about 500 a day.” Martins-Mann was a foreclosure technician at Countrywide’s Simi Valley offices until the Read More →

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Profitable merger for Noza

By   /  Monday, October 18th, 2010  /  Nonprofits, Technology, Top Stories  /  Comments Off on Profitable merger for Noza

Noza, a Santa Barbara firm offering data to help nonprofit fundraisers, has been acquired by a South Carolina company that’s profiting handsomely from the nonprofit sector. Noza created technology that searches the Web for public information about the money that people and companies have given to charities. Fundraisers at charities and nonprofits can use that Read More →

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SLO family fights state on ‘land grab’

By   /  Monday, October 18th, 2010  /  Top Stories  /  Comments Off on SLO family fights state on ‘land grab’

Can the state demand access to a mile of pristine beach land in exchange for permission to fix up an old farmhouse? A San Luis Obispo County family, backed by one of the state’s top property-rights law firms, is suing the California Coastal Commission to find out. A family trust led by sisters Denise McLaughlan, Read More →

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