North Star Builders, Florissant CO 80816

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Barbara's Mortgage

An interesting senerio is unfolding in the sleepy little community of Florissant, Colorado. But somewhat baffling as well.
Barbara Ann Robbins (now Barbara Asbury) was given a Quit Claim from her husband, Douglas Everett Robbins, on the property that they owned together, L17A, Panoramas Unlimited. This quit claim was registered on December 29, 2000.
On February 15, 2001, Barbara Robbins (now Barbara Asbury) received a $300,000 mortgage on this proprty. This mortgage is in her name only, as a married woman. While all of this is possibly very legal, considering the recent history of Barb and Doug Robbins, it also raises a number of questions.
Why the Quit Claim? Doug, why do you want the loan in just her name? Are the two of you trying to conceal assets? Is NorthStar in financial difficulty and this is an indirect route to getting money? Or, Doug, are you getting ready to file bankruptcy again and you're just moving assets around hoping creditors can't find them?
Barbara, the Teller County assessor's office says that the house and the 18.77 acres of land are valued at $198,244 (as of January 2001). How did you get a $300,000 mortgage on property valued at less than $200,000? Please share this with the rest of us so we can all benefit from your expertise.
Where does Grand West Financial fit into all of this? Brabara's buddy, Kevin Marks, brokered the loan. He then sold the loan to INDYMAC in Pasadena, California. Is he the reason you got this great deal? Did he broker a deal that got you 50% more? Did he get an appraisal on the property? Did he tell INDYMAC about the deal? How did he, or you, get an appraisal for TWICE the value of the house?
As The World Turns. As we said, this might be perfectly legal. Somehow, we don't think so. And if it's legal, where does the relationship between Grand West Financial and NorthStar enter into this? And to what extent? Grand West has a tremendous fiscal investment in NorthStar. So large that it is impossible for Grand West to effectively perform it's fiscal responsibilities to it's customers. So large that Grand West cannot represent it's customer's best interests because it's more concerned with the well being and sucess of NorthStar.
Anyone with answers to these questions, feel free to contact us. If this is all innocent, we'll retract everything. Somehow, we don't think that will happen.

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