We have been keeping tabs on Joe Badalamenti, owner of Five Brothers with respect to the filing of an Internal Revenue Service Form SS-8 which is a formal determination of whether or not a Company is inappropriately classifying a person as an Independent Contractor as opposed to an employee. This is a common tactic used, in my opinion, by all Members of the National Association of Mortgage Field Services.
So, this is the first of many salvos which we are going to cover here on Foreclosurepedia. Here is the reality: In the same way that the Property Preservation Industry feels that it is able to overwhelm Contractors and defraud them, I believe that in numbers Contractors will be capable of bankrupting the Industry with an Initial Surge of litigation and filings across the spectrum.
More on this as the Story Progresses.