My husbnd and I sold a house on a deed for contract with a promisary note to accept payments every month. The people who bought the property were paying good for 3 years we just wanted to sell the note to either buy another home or lower the payments on the home we live in.
We decided to sell the note to Steve Hochman of First Call Friendly note buyers because he offerd us a good buy out. So we signed papers for a full purchase of the note. Steve comes back the next day and says the so called "investors" only wanted to do a partial buy out for half the note. We said "NO" Its either the whole note or nothing. Thinking that was the end we get a call and a fax from him the next day saying that he talked to the investors and they are willling to do a partial payment on the full purchase of the note with the other half of the payment in a year from the date of closing pluse he also faxed me a (what appears to be an inter office memo) from his investors promising to pay the other half with intrest a year from the date of closing. He has us sign papers saying that he would pay the other half (an addendum/amendment) in full a year from the date of closing plus he said we had to sign the partial to keep are collateral, but " not to worry its just a formality we do this all the time you have are addendum promising you will be paid in full in a year we just have to split it up and do a partial on the full purchase thats all this is"
Next a get papers from the title company to sign paper work I had some questions about the paper work she wanted us to sign the paperwork she sends me still states that first call friendly note buyers will purchase other half in full with intrest 1 year from the date of closing. She (the title company) assures me that he has to pay this money in one year that he does this all the the time. So we sign the paper work.
I then ask Steve Hochman to send me the paperwork signed by him promising to pay in full in a year. He sends me the paperwork signed by him promising the pay the balance in full in one year.
Now a year goes by and I am expecting my money. Steve Hochman sends me a letter saying he is not going to buy the other half and if he does he is only going to pay me about 1/3 of what he promised.
I feel I was manipulated and coherced to sign those papers on the promised addendum and the "inter office memo" from his so called investors was all a ploy to get me to sign a partial buy out that he knew I would not sign. Now he has my note for the next 8 years.
Luckley I saved all my paperwork of the now so called "broken promises" and I saved that so called "inter office memo" and have to decide what I am going to do about the lies, deception, breach of contract and fraud that is upon me now.
Dont ever sell a note or anything to this man or company he will lie and manipulate you to get your property.
On his web he prides himself on being a really all around nice guy!!! He wasnt to nice to me, and he will not be nice to you beware.
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