BREAKING NEWS: HomeStar Property Solutions (HomeStar), a National Association of Mortgage Field Services (NAMFS) Regime Member is under Audit by the State of Minnesota. As many recall, we reported upon HomeStar sending out an email several weeks back to Contractors asking for them to be compassionate with respect to the fact that they were nearly Seven Million Dollars in the hole. When Contractors began to discuss this, HomeStar then refused to communicate further. Looks like the chickens have come home to roost just like Foreclosurepedia predicated.
From: Tasha Becker <email@example.com>
Date: April 25, 2014 at 11:30:37 AM CDT
Subject: 2012-2013 Contractor Documents with HomeStar
You are receiving this email because we did work with you in the 2012-2013 year but we do not have your Certificate of General Liability Insurance on file for that time period. We are in the middle of a State of MN Audit and we are missing these documents from you. It is VERY IMPORTANT I rec these documents from you ASAP. If you dont have a copy and you can provide me with your Agents phone number I can call them myself and get this.
ALSO IF YOU HAVE ANY LICENSE FOR THIS TIME PERIOD PLEASE SEND THAT AS WELL.
Any questions please feel free to call.
Office: 763.205.7946 / Fax: 763.374.4797
HOMESTAR PROPERTY SOLUTIONS
7351 KIRKWOOD LN N STE 130, MAPLEGROVE, MN 55369-5219
Contractors in the State of Minnesota had plenty to say about HomeStar’s track record as well,
They have been ripping off contractors all over the place. They also try and play phone games and make up rules as they go to try and get out of paying you. They are a scam they have robbed thousands of dollars just from me. There are other contractors out there that we have heard they did the same thing to. Nothing but scam artist who try and bully you. I am a small woman owed company and I feel they are taking full advantage of me.
I hope someone can do something soon. I also plan on putting liens on the properties that I did work on hopefully then they will pay. They also will try and tell you what the county codes are but trust me the people at Homestar do not know what they are talking about for I have talked to each county that work was done in and HomeStar was wrong. They also will break the there own contract so be aware they will rob you blind.
We have been predicting that the Audits are coming. As you can see from the HomeStar Language, the onus is being placed squarely upon the shoulders of Contractors. Micheal Breese, on the heels of reporting nearly Seven Million Dollars outstanding to Contractors whom live hand to mouth, stated this to HousingWire:
“The future of companies our size depends on forward-thinking and if you can’t adapt and evolve as a company you’ll die off. We have to involve ourselves in a bigger future.”
That bigger future for HomeStar includes HomeStar Properties I, a fund that will allow Breese and his partner, Ben Brunson, to buy non-performing loans and distressed properties with the intention of rehabbing them through HomeStar Property Solutions. Breese plans to expand their disposition strategies to include distressed assets and rentals as well as the repackaging of non-performing loans.
True irony. So, HomeStar has multiple Complaints from Contractors for not being paid — Foreclosurepedia is actually working on several — seems to have a problem ALLEGEDLY COLLECTING money (I say allegedly because I personally believe this is a Smoke Screen) and is now under an Official State of Minnesota Audit. Wait, though. In the midst of all of this, Breese and his sidekick Brunson seem TO HAVE PLENTY OF MONEY TO OPEN MULTIPLE BRAND NEW CORPORATE OFFICES. Yeah, HousingWire published this just a few days ago as well,
HomeStar Property Solutions, a national provider of field services including inspections, preservation, renovation and environmental remediation, as well as hazard insurance claims and property management, officially opened its second corporate location in Dallas, Texas.
You really, REALLY have to hand it to these folks. And, lo and behold, wouldn’t you know there has to be an Altisource Connection. I mean it is becoming more and more apparent that either Altisource is the epitome of a Greek Tragedy or I would anticipate the upcoming New York Investigations at Ocwen to begin to spider down to Altisource.
To show truly how deep down the Rabbit Hole this entire cesspool goes, HomeStar, which does business as Energy REO, is currently suing Statebridge Company LLC and Geneva House II LLC. Oh, don’t act all surprised as virtually all NAMFS Regime Members are embroiled in something. Take East Point Systems. East Point Systems Inc. is suing Steve Maxim over at Maxim Enterprises, S2k Enterprises, Maxim Field Supply and Cleveland Field Systems. The suit brought in a bunch of counter and cross suits and even Altisource’s good buddy Heather Berghorst @Paragraphs 177 – 184 in Original Complaint) gets special mention.
I mean this entire NAMFS Regime set up is incestuous, at best. I have stacks upon stacks of cases I have been pouring through. The only way to keep my intestines stable is on a diet of Pepto Bismol! Nothing, including murder, will surprise me anymore in the Mortgage Field Services Industry. It is quite apparent that the moniker of the Wild West is actually tame by way of comparison to that which is taking place. For our FireWire and ISTAR Members, we have already sent out further updates. We will stay on top of this fast breaking story including our call to the State of Minnesota tomorrow.