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Heritage Pacific is working with debtors. Their solution: a mortgagers payment plan that would force their children (and their childrens children) to complete the payments in the event of their deaths.
SAN DIEGO -- Adding new uncertainty in the state's ongoing mortgage crisis, a Texas company is aggressively pursuing hundreds of Californians to collect second-mortgage debt -- on homes they've already lost through foreclosure.
Heritage Pacific was started by identical twin brothers, Chris and Ben Ganter, who once starred in a reality TV show, "PayDirt," about investing in the Dallas-Fort Worth real estate market.
Heritage Pacific's first big foray into California came in U.S. District Court in Los Angeles, where in a three-month period beginning in December 2009, Heritage Pacific filed three lawsuits seeking $46 million in actual and punitive damages from 158 defendants who took out 143 loans.That push yielded mixed results. One judge signed 21 default judgments ordering no-show defendants to pay $1.8 million. But a lawyer who showed up to represent one of the defendants persuaded another judge to shut down the company's multi-party lawsuits. The defendants had "nothing in common … other than that they each applied for and received a loan that Heritage now owns," the judge wrote.Meanwhile, Heritage Pacific opened another front in California state courts. California Watch reviewed online records in 10 of the state's 17 largest counties and found 365 lawsuits in which Heritage Pacific was a party.
18.Christopher Ganter
N/AAvailable
Woxall, PA
19.Christopher Ganter
N/AN/A
20.Christopher Ganter
N/AN/ASan Marcos, TX
Lydia Ganter
Jason Ganter (Age 34)
21.Christopher D Ganter
N/AAvailable
Dallas, TX
Heritage Pacific was started by identical twin brothers, Chris and Ben Ganter, who once starred in a reality TV show, "PayDirt," about investing in the Dallas-Fort Worth real estate market.
The company's lawsuits often accuse defendants of misstating their incomes on loan applications. While many borrowers did overstate their incomes on applications, consumer attorneys say Heritage Pacific is targeting people who filled out their forms honestly or whose mortgage brokers pumped up their applications without their knowledge.
Critics of Heritage Pacific say the company's central tactic is forcing settlements from people who can't afford a drawn-out legal fight and who don't know the details of California law. The company has sued people with second-mortgage debts of less than $150,000, despite a state law prohibiting lawsuits alleging fraud on mortgages below that amount.Heritage Pacific's collection methods now face legal challenges, including a class-action lawsuit in Santa Clara County Superior Court that contends that the company is carrying out an "insidious and illegal debt collection scheme."The company doesn't make mortgage loans, but instead attempts to collect payments on loans originated by others. Heritage Pacific launched its effort in late 2008 when it began buying – at a steep discount – second-mortgage loans that borrowers had stopped paying. Many of the loans were secured by houses that already had been sold in foreclosure by first-mortgage lenders.
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...regulators in Arkansas have cracked down on Heritage Pacific's fundraising. The Arkansas Securities Department found that in September 2010, four Arkansas investors paid $50,000 each to buy bundles of second mortgages from Heritage Pacific, and the buyers signed separate deals to pay Heritage Pacific to collect and distribute payments from their mortgages.In December 2011, the securities department issued a cease-and-desist order directing Heritage Pacific to stop selling unregistered securities.
Heritage Pacific's first big foray into California came in U.S. District Court in Los Angeles, where in a three-month period beginning in December 2009, Heritage Pacific filed three lawsuits seeking $46 million in actual and punitive damages from 158 defendants who took out 143 loans.That push yielded mixed results. One judge signed 21 default judgments ordering no-show defendants to pay $1.8 million. But a lawyer who showed up to represent one of the defendants persuaded another judge to shut down the company's multi-party lawsuits. The defendants had "nothing in common … other than that they each applied for and received a loan that Heritage now owns," the judge wrote.Meanwhile, Heritage Pacific opened another front in California state courts. California Watch reviewed online records in 10 of the state's 17 largest counties and found 365 lawsuits in which Heritage Pacific was a party.
| Norfolk, VA | Shannon Leigh Williams (Age 36) | ||||
| 17. | Christopher Ganter | N/A | Available | Telford, PA |
N/AAvailable
Woxall, PA
19.Christopher Ganter
N/AN/A
20.Christopher Ganter
N/AN/ASan Marcos, TX
Lydia Ganter
Jason Ganter (Age 34)
21.Christopher D Ganter
N/AAvailable
Dallas, TX
Christopher Linton Ganter Associated names: Christophe Ganter Christoph L Ganter | 38 | Available | Available | Alton, IL Brighton, IL Norfolk, VA Boulder, CO |
1. | Christopher David Ganter Associated names: Chris Ganter Christophe Ganter Christph Ganter Christoph D Ganter C L Ganter Christopher D Gaster | 38 | Available | Available | Dallas, TX Duncanville, TX Frisco, TX Irving, TX Plano, TX | Wendy Susan Bradford (Age 41) John Charles Ganter (Age 63) Laura A Johnsonganter (Age 44) Benjamin Alan Ganter (Age 38) Greg V Ganter (Age 57) Elizabeth Dorian Ganter (Age 31) Gregory Vincent Ganter (Age 33) Wendy S Gant Laura J Ganter (Age 44) Possible Roommates / Associates: Jeong Hoon Seo (Age 53) Alexander A Vanstrien (Age 38) Anna Catherine Johnson (Age 35) James Michael Allred (Age 38) Stephen Philip Devolt (Age 57) |
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By demanding payments from more than 1,000 individuals in California, the lawsuit contends, Heritage Pacific has violated "the rights of those who have already suffered the emotional and financial distress that results from the loss of their foreclosed home."Heritage Pacific is nothing more than "people in Texas acting as vultures," said Will Kennedy, a lawyer in the class-action suit.
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| le Employers / Business Afilliations | |||||
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| 1. | Christopher David Ganter Associated names: Chris Ganter Christophe Ganter Christph Ganter Christoph D Ganter C L Ganter Christopher D Gaster | Available | Dallas, TX Duncanville, TX Frisco, TX Irving, TX Plano, TX | Cdg Contracting | |
| 2. | Chris Ganter | Available | Hurst, TX | Non Owner Occupied Money Llc Non Owner Occupied Money Llc Non Owner Occupied Money, Llc | |
| 3. | Chris Ganter | Plano, TX | Tcd Construction Llc Tcd Construction Llc Tcd Construction, Llc | ||
| 4. | Christopher D Ganter | Available | Dallas, TX | Ganter Development Llc Paydirt Reit Ganter Development Llc | |
| 5. | Christine A Ganter | Albuquerque, NM | Desert Ridge Place Condominiums North Homeowners Association, Inc | ||
| 6. | Christine Marie Ganter Associated names: C Monge Christine Marie Monge Chris Monse | Available | Miami, FL North Miami, FL Coconut Grove, FL Coral Gables, FL Fort Pierce, FL | Christine M Monge Pa Christine M Monge, Pa Christine M Monge, Pa Ganter Associates, Inc | |
| 7. | Chris Ganter | Hurst, TX | Non Owner Occupied Money, Llc Non Owner Occupied Money, Llc |
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| 1. | Sl Creekside Development, Llc | Available | San diego, CA | Brett Ames (REGISTERED AGENT) |
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| esses | ||||||
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| 1. | Best In The West Development Company, Llc | Available | San diego, CA | Brett Ames (REGISTERED AGENT) Mccullaugh Ames (GENERAL PARTNER) |
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| s | ||||||
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| 1. | Woe, Llc | Available | San diego, CA | Brett Ames (REGISTERED AGENT) Brett Ames (GENERAL PARTNER) |
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10. | Heritage Pacific Resources, Llc | Available | San diego, CA | Brett Ames (REGISTERED AGENT) Brett Ames (GENERAL PARTNER) |
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