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Email Schneider To Hagan Re. Herman Lease, Any Resolution
Email Schneider To Hagan Re. Herman Lease, Any Resolution
Email Schneider To Hagan Re. Herman Lease, Any Resolution
Larry:
Thanks for the update. I agree that we appear to be narrowing the choices, which is good. I'm hopeful we can work this
out in short order.
Are you available for a call later this afternoon?
Brian
Sent from my iPhone
On Jun 9, 2016, at 11:31 AM, Larry Schneider <larry@sacapitalpartners.com> wrote:
Brian,
I have not heard back from Jeff Herman regarding an offer for the house. I’m pretty shocked and
disappointed as I told him the predicament I was in. I informed him of the importance of moving this
forward regardless of his offer.
As I mentioned, he is now a month tenant so I am legally required to give him only a 30 day notice to
vacate prior to the 1st of any month. (I’ve attached the executed lease for your records)
As for my financial condition, although I have some remaining cash flow in my entities, my legal fees and
expenses exceeds the total amount collected each month. In the spirit of good faith dealing, I have
provided a copy of two correspondences with my financial advisor, both of which were used to pay legal
fees and living expenses.
On January 20th, 2016, I borrowed $200,000, which was almost the entire cash value of
my Voya Life Insurance Policy.(see attached)
On February 10th, 2016, my wife was forced to liquidate $200,000, most of her
retirement annuity with Jackson National.(see attached)
Yesterday, I had to repay an investor in S & A Capital $200,000 and I owe $50k more.
I owe over $1M in legal fees in my ongoing litigations to Perkins Coie, LLP, Cullen Law
Firm, Walker & DiMarco P.A. and Chaitman, LLP.
I don’t see any way through this outside of the options I suggested last week. I have negligible savings
and I can’t sell my mortgages or use them for collateral as many are significantly impaired due to JPMC’s
malfeasance. A sample of the lien releases are attached in good faith dealing.
Let me know what you want to do and let’s get the ball rolling, whether a deed in lieu or litigation.
Again, I appreciate our communications in this matter.
1
Sincerely,
Larry Schneider
S & A Capital Partners
1st Fidelity Loan
Mortgage Resolution
305‐710‐4201
larry@sacapitalpartners.com
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<$200k Wire to Ross Kotkin, June 8, 2016.pdf>
<oaks executed lease.pdf>
<Releases of Liens.pdf>