Mr Schoning is a property speculator. He buys and then rents "as is" or resells property on contract. Per county records hundreds of properties have been bought and sold by Mr Schoning. He is almost constantly in default on one property or another. He is well know in Corvallis as a slum lord that preys on students and low income renters. Mr Schoning lives in an up scale neighborhood, owns several expensive car, travels and lives a pretty nice life. He thinks of himself as a skilled businessman and show no concern for the people he scams to support his extravagant lifestyle. |
THIS IS MY STORY: In May of 2004 I asked Mr Schoning to allow me to refinance the house I purchased from him on contract without paying the pre payment penalty. He refused. Interestingly, he was ALREADY in default on his senior loan at the time. My refinancing could have ended his default. He chose instead to continue to take my money and divert it for other needs.
I first learned of the default in September 2004 when I got a letter notifying me that my house was up for auction. Apparently, Mr Schoning had not made a payment on his loan for some time, in addition, I learned his contract stated that he was prohibited from resell the property he sold to me.