Eric Cadwallader gets What He Deserves

10/23/07 - Well, it looks like Mr. Eric Cadwallader is starting to get what he deserves. The Karma train is a comin' around and Mr. Cadwallader is stuck on the tracks. This guy, along with Steve Morris, are two of the biggest dirt bags I've ever had the displeasure to meet. Eric Cadwallader conspired with Steve Morris to steal a company and property from my wife and I. You can read more about that here. It seems like anybody who gets involved with Steve Morris ends up losing. It's like Steve Morris poisons everything he touches.

Another guy who has helped Steve Morris is Luis Acevedo. Luis Acevedo's wife divorced him not long after Luis started helping Steve and Eric. They (Luis and his wife) had a young son and I'm sure that their divorce was hard on the boy. Steve Morris is such a bad influence on people and he's the direct cause of all the problems Luis Acevedo and Eric Cadwallader are now experiencing.

In addition to his thievery from my wife and I, Eric Cadwallader and Luis Acevedo also conspired with Steve Morris to hide assets from Steve Morris's creditors.

These foreclosures probably aren't the end of the line of troubles for Eric Cadwallader either. Typically, when a mortgage is foreclosed, the lender forgives a portion of the loan. This happens when the foreclosed property sells for less than the outstanding amount.

The difference in these amounts is called Cancellation of Debt income, or COD income, and it is taxable. So, considering we're in the worst housing market since they've been keeping records, and the real estate genius Eric Cadwallader bought these two houses at the absolute height of the real estate bubble, it's most likely that when these two homes are sold on the auction block, they're not going to sell for anywhere near the approx. $650,000 Eric Cadwallader owes the mortgage company.

It's conceivable that Eric Cadwallader could owe taxes on an extra $40,000 - $50,000 or more of COD income this year!

That's perfect! That's exactly what this guy deserves. It's good to know that it's really true: What comes around goes around.

Plus, there's a very good chance that Mr. Eric Cadwallader could be looking at jail time for the bank and wire fraud he committed along with Steve Morris.

I hope that as Eric Cadwallader and Luis Acevedo examine where their lives have gone to, they'll realize that it was their involvement with the lying, back-stabbing dirt bag Steve Morris that has brought them so much pain and grief. In the meantime, I'm laughing at these losers.

Anyway, below are links to the official documents showing the financial problems Mr. Eric Cadwallader is having due to his relations with Steve Morris and the fact that's he's a lying, thieving scum bag.

• On 6/28/2006 - Eric Cadwallader takes out a $96,000 Mortgage through OwnIt Mortgage Solutions, Inc. The house exists at: 17607 Glennapp Drive, Land O' Lakes, FL 34638.
   

• On the same day, 6/28/06 - Mr. Eric Cadwallader takes out a $288,000 balloon mortgage on the same property mentioned above. I assume he did this to avoid PMI (Private Mortgage Insurance).
   

• On 7/31/07 - Eric Cadwallder takes out a mortgage in the amount of $332,500 for the property located at 34349 Glendalough Way, Wesley Chapel, FL 33544

• On 11/2/2006 - A lien was placed on the property situated at Ballantrae Villages for lack of payment of home owners association dues in the amount of $425.00. - It looks like he paid this in January of 2007.
   

• On 5/10/2007 - A Lis Pendens (legal term for locking the property so it cannot be sold or transferred until the Lis Pendens is released) is applied to his property at 17607 Glennapp Dr., Land O' Lakes, FL 34638.
   

• On September 6th, 2007 - A Lis Pendens (legal term for locking the property so it cannot be sold or transferred until the Lis Pendens is released) is applied to his property at 34349 Glendalough Way, Wesley Chapel, FL 33544
   

• On 9/25/2007 - A Foreclosure judgment is granted in Pasco county in favor of the plaintiff. Eric Cadwallader owes $310,076.22 to the mortgage company and the house located at 17607 Glennapp Dr., Land O' Lakes, FL 34638 is scheduled to be auctioned at the Pasco County Courthouse on 10/30/2007.

Want to research this yourself? Here is a link to the Pasco County Clerk of the Circuit Court website:

http://www.pascoclerk.com/public-sup-svcs-record-search.asp

Scroll down the page and click 'By Name' to search for records by an individual's name.

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