Cal-Bay International Inc (CBYI)

[mordicai]

To get what money? Cbay will not get a dime from the stonewall note --- the mortgage was deemed worthless most recently by a bankruptcy court in Mississippi. One cannot simply lose in court and then file another action in a different court to litigate the matter again. Res judicata and collateral estoppel will be applied to once again throw the new case out. As far as suing the party that sold the worthless mortgage to cbay ....it was sold to cbay "without recourse", which basically means if the note balance was not paid to cbay , cbay agreed not to go after the entity that sold that note to cbay for payment. The real or superior mortgage was filed of record, which cbay could have easily looked up...so I doubt cbay will be successful on any claim of fraud and misrepresentation against the entity that sold the worthless mortgage to cbay. It is truly amazing how you always show up a day or two before bad news hits to pump this thing so you can unload. Isn't that trading off of insider information. Hmmmm. The property appraiser in alucha (sp) county, florida, no longer has cbay as the owner of the $450,000 home --- but instead lists the beneficiary and "deed of trust" holder as the owner. Interesting.....