HomeBlogForeclosurepedia Files Motion To Intervene In NFN Involuntary Bankruptcy

Foreclosurepedia Files Motion To Intervene In NFN Involuntary Bankruptcy

December 17, 2018

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Hours ago, Foreclosurepedia electronically filed with the United States Bankruptcy Court for the District of New Jersey a Motion to Intervene in the Involuntary Bankruptcy of National Management and Preservation Services dba National Field Network (NFN). In a rare turn of events, Foreclosurepedia was granted leave to file the Motion after the Court instructed that its receipt of an email would not suffice with respect for a release of depositions taken from Shari Nott and Jack Jaffa. As a member of the media, Foreclosurepedia had been in direct contact with Walter Cole of the Cole Team. Cole, whom is the Chairman of the Debtors Committee appointed by the federal court.

Walter Cole discussed, in great detail, the deposition of Shari Nott, CEO and Co Owner of NFN, which he was present for. Cole stated that Nott confessed to several eye opening details. First, Cole stated Nott admitted to she and NFN ordered chargebacks — she described them as back charges — and kept the monies in house and never refunded them to financial institutions, government sponsored enterprises, or the US government. Cole stated that Nott went on to state that “HUD Adjusted Bid” had absolutely nothing to do with the US Department of Housing and Urban Development (HUD). And most interestingly, Cole stated that Nott testified that she was instructed by Fannie Mae to continue sending work to her contractor network, knowing NFN could not pay, as Fannie Mae stated it was cheaper to bond off liens than pay the contractors themselves.

Mr Cole’s belief that keeping hidden the depositions of Shari Nott and Jack Jaffa would benefit not only the victims of NFN, but also US Taxpayers is a bridge too far. And when taken into perspective with how Walter and Elizabeth Cole are performing with respect to Hurricane Michael work in Florida, it begins to paint a picture of precisely how important it is to the American public to have transparency.

Below is the Motion to Intervene filed by Foreclosurepedia only hours ago. We welcome both victims and other media outlets to join in supporting by way of contacting the Court directly.