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Tuesday, July 27, 2021

IT'S STEVE'S HOUSE! "Sugar Daddy" Brian Lynch Making $8,000 Monthly Mortgage Payments To Wildfire Credit Union On Behalf Of Bay City Academy Building Still Owned By Steven Ingersoll; Mark Noss Son-In-Law Keeping Up The Family Grift Tradition...WITH YOUR MONEY!

 I have discovered that the building housing the Bay City Academy (301 N. Farragut, shown above) is still legally owned by Steven and Deborah Ingersoll.

Steven Ingersoll purchased the building in February 2012, but by June 2016, Ingersoll had defaulted on a nearly $800,000 construction mortgage loan issued to his "Farragut Schoolhouse LLC" entity on March 28, 2013 by Wildfire Credit Union.

The credit union filed a "Notice of Enforcement" on June 8, 2016, exercising the mortgage's "Assignment of Rents" clause.

Bay City Academy's Mitten Educational Management, run by Mark Noss's son-in-law, Brian Lynch, and Michael Randel, have been paying $8,000 a month to Wildfire since the 2016/17 school year--effectively paying off Ingersoll's outstanding mortgage debt with taxpayer cash.

The property taxes on the building have been current since the summer of 2016, although I have no way of unearthing who's been making those payments.

I have alerted State of Michigan officials about this scheme, and will provide exclusive updates.


 

 


10 comments:

  1. I mean, wha????
    Noss takes on Ingersoll's debt.
    Lynch takes on Ingersoll's payments.

    WHAT THAT HEY-WHO does he have on these guys??? NO one would just do this out of the kindness of their heart. Or am I not reading this right?

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    1. https://glisteningquiveringunderbelly.blogspot.com/2017/12/dirty-little-ecrets-following-paper.html

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  2. Thank you, Miss Fortune, for all the investigating you do. Keep up the great work. You wonder how the heck Ingersoll could still possibly "own" the Farragut building. What a bunch of crooks, all of them. Hope the State does its job after you alert them.

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  3. I don't know what can be done Credit Union got its money and the state don't care about their money unless you're a little guy just trying to make a living and the government must beat you down

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  4. Didn't Wildfire Credit Union even pay the taxes on that building instead of losing it to the City of Bay City and then the County? It seemed in their best interest to do that and not lose even more. Meanwhile it seems that the "rent" payments cover the credit union loan and maybe some of those taxes to get them recouped. How sad for the taxpayer and honest citizen.

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  5. I don't know who is paying the property taxes on the building; it's unlikely Wildfire would discuss the issue with me.

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  6. It would be very good for the State of Michigan to know that Mitten Bay is making the mortgage payments to Wildfire Credit Union and the "owners" are reaping the benefits. We would think that maybe that would be construed as some sort of income, even indirectly. Another interesting angle about this whole mess.

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    1. The State of Michigan's Department of Education, and Lake Superior State University's Charter School Office, already know that Mitten Management is making $8,000 "lease" payments to Wildfire Credit Union on behalf Steven Ingersoll's debt. You may have missed it in the article, but the credit union filed a "Notice of Enforcement" on June 8, 2016, exercising the mortgage's "Assignment of Rents" clause to get money directly from Mitten...which obtained the money from Michigan taxpayers.

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    2. Thank you again, Miss Fortune. I read it the first time and then forgot some of the details, that being one of them. God bless you for your diligence. Isn't it interesting that the credit union did not repo the building and then just turn around and rent it to Mitten Bay. That way, they would have had the ownership of the building, not the Ingersolls. Must have had a good reason to not go that route, perhaps because of too much red tape or more hassles and troubles. Again, thank you for your outstanding and accurate reporting.

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    3. Wildfire was not interested in the building,they only wanted the money. Ingersoll set it up with the Bay City Academy that the management company that succeeded him would owe the money because of the terms of the original 20-year lease.

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