Lender seizes desperate borrowers' homes

[mahatmakanejeeves]

Tip o' the hat to Dan Savage. The Seattle Times did a good job with this story. Big thanks to Christine Willmsen. This is one ugly story.

Lender seizes desperate borrowers' homes

Originally published November 13, 2010 at 8:00 PM | Page modified November 15, 2010 at 10:43 AM

By Christine Willmsen
Seattle Times staff reporter

Emiel Kandi forever changed the lives of a pregnant hairdresser, a jobless mechanic and a single mom when he loaned them money.

These unsophisticated, desperate borrowers thought a short-term loan from the well-dressed professional could save them from financial collapse or foreclosure. But the very asset they were trying to hold on to — their home — was what Kandi was determined to take.
....

A Seattle Times examination of numerous Kandi loan deals shows that they are set up so he can quickly take borrowers' homes and in some cases flip them for a profit. And he gets away with it.

[Catherina]

1. Stay away from this asshole's other business, the Cobra Medical Group, Tacoma marijuana dispensary

http://www.tokeofthetown.com/2010/11/tacoma_marijuana_dispensary_owner_is_also_predator.php#more


"One single mother of two children took out a loan for $5,000 from Kandi, missed a payment, and lost her home and $70,000 in equity, according to the Times."


What slime.

[JanMichael]

2. Human scum

Nothing is sadder than man's inhumanity to man.

[brewens]

3. We have a name for a piece of crap like that. We call it a Republican! n/t