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Old 09-12-2007, 05:31 PM
 
32 posts, read 105,596 times
Reputation: 21
Quote:
Originally Posted by whataboutthismess View Post
Hello there Ralphmalph, Glad to see you all once more. I got a really good question for you. I have some really close friends of mine who still think that they can ride this wave out. They have refinanced their homes and bought homes in this miserable program and they still think that things are going to work themselves out. My question is....If a person refinanced their home and used their own refinance company, but yet, rolled their homes in the program, can they still face criminal charges? Some seem to think that all they have to do is get their fifty grand back and everything will be fine. What do you think?
It depends on what was on the paperwork. Some have said that the money given to MDH was listed as being a "finder fee". In reality MDH did not do didley squat for either the buyer or the seller and this was a kickback to the buyer from the seller. I am not a lawyer and any of this would have to be decided in court, but I think the buyer committed fraud. I think the seller also committed fraud. I don't know if the agents and loan officers can be held liable, but if I were on the jury, I would hold them liable for any claimed losses as there are fiduciary obligations on their parts. As I said in an earlier post (possibly at scam.com), my friend said the realtor for his roommates didn't seem to care how the deal was closed as long as it was closed one way or the other. I find that reprehensible on the part of a professional.

All that said, for anyone to be charged with a crime means that someone would have to charge them. If your friends are not in any way a promoter of this scam, and there is no one else who suffers losses due to them being part of this scam (meaning they don't declare bankruptcy), then I don't see how they would ever be charged with any crime. Why would the AG want to do that?


PS Oh, I almost forgot... what makes your friends think they can get their 50 grand back???

Last edited by ralphmalph; 09-12-2007 at 06:06 PM.. Reason: Added PS

 
Old 09-12-2007, 07:10 PM
 
5 posts, read 22,771 times
Reputation: 10
Default Info

Thanks for the reply Ralph, I'm thinking the same thing you are. They do acknowledge the fact that MDH has been shut down, but they still think that they will get their monies back. One of them is a junior board member, and one is account manager. I'm really, really concerned for them. They damn near everything tied up into this madness...It's horrible! Now starts the slow bleed process and I think they are beginning to feel it.
 
Old 09-12-2007, 07:39 PM
 
5 posts, read 24,263 times
Reputation: 10
Default Monies invested is more than 75K folks

I've seen posts where people state the monies 'invested' by MDH victims as 50K or 75K and the like. Folks, in most cases the monies are far higher and that is what is going to make it a whole lot painful. To become a member, one had to pay $5500 registration fee plus 15% of whatever the value of your home is. But to become a Junior Board Member, the minimum amount required was $125K and I know folks who paid more than that to enter the program. In addition to having one's mortgage paid until it is paid off in 5-7 years, Junior Board Members were to be paid $52K a year and the pitch was that seats on the board dried up fast so people needed to hurry to secure one of the few seats left.

I learnt about the program from a friend and did attend one of their presentations. I have to confess that I very nearly joined the bandwagon but decided to give it some time to study the business model a bit more and do some research because the answers I got in response to my questions were not very convincing. It didn't take much for me to conclude that the program has no long term viability. It's a shame how quickly everything seem to be disintegrating and the pain that will be visited on the members. Too bad!

Thanks you all for staying on top of this scandal. It is saving lives, trust me.
 
Old 09-12-2007, 08:35 PM
 
Location: Howard County
72 posts, read 303,654 times
Reputation: 21
I'm not affected by this situation, but I am so upset with the obvious shadiness of this "scheme." I just looked at the video on the Metro Television Network.. and I can see right through them! The details of today's court hearing just proved that. I'm also African American, and I don't like the whole "race card" that they are playing. Disgusting. I guess some people are impressed by how people dress, talk, etc, without checking out all of the facts.

What I don't understand is, why would someone think they even HAVE to participate in something like this? I learned a long time ago that if something looks too good to be true, it probably is!

I hope the victims of this scam get their money back.
 
Old 09-12-2007, 08:37 PM
 
56 posts, read 197,545 times
Reputation: 27
Thanks, Purple Kool Aid.......EXCELLENT WORK.......no surprises in that piece. Its good that there are no delays in the process. I still really fear the assets will evaporate before the AG takes strong action.

Still no outcry from the majority of investors, right?

FWIW, that annuity defense is more nonsense. Annuities have a mathematical basis, so the Judge would've been asking the SAME questions even if it WAS an annuity and insurance companies need to be registered with the state anyway, so the charge would be operating an unlicensed insurance company......more waste of the investors and taxpayers money....

Another thing..........was there any media present?.......or investors? There has not been much local coverage in my opinion.

Last edited by sagegriot; 09-12-2007 at 08:46 PM.. Reason: one more question.........
 
Old 09-13-2007, 07:52 AM
 
32 posts, read 105,596 times
Reputation: 21
Quote:
Originally Posted by sagegriot View Post
Still no outcry from the majority of investors, right?
That is starting to be surprising, but I guess it shows that the victims are still in denial and are thinking that they will be getting "refunds" if all else fails. Most of the money has already disappeared and only the most vocal, most forceful and quick acting will be getting any sort of a refund. Like someone else said, the defendants in the upcoming criminal trial are preparing for their defense and are pulling all of the cash into their own pockets.


Quote:
Another thing..........was there any media present?.......or investors? There has not been much local coverage in my opinion.
I think that is because this story is only of real interest to those affected and most of them seem to be sticking their heads in the sand hoping it all goes away and their money returns to them like Little Bo Peep's sheep. But then it was ignoring reality that got them into this mess in the first place isn't it... Why read the paper or contact a lawyer when you can pray on it?
 
Old 09-13-2007, 09:23 AM
 
4 posts, read 33,732 times
Reputation: 11


Williams et al v. Lubin

Plaintiffs: Andrew H. Williams, POS Dream Home, LLC, Metropolitan Grapevine, LLC and Laveda Whitefield Defendants: Melaine Senter Lubin Case Number: 8:2007cv02341 Filed: September 4, 2007 Court: Maryland District Court Office: Greenbelt Office [ Court Info ] County: Prince George's Presiding Judge: Judge Roger W Titus Nature of Suit: Other Statutes - Other Statutory Actions Cause: 42:1983 Civil Rights Act Jurisdiction: Federal Question Jury Demanded By: None









I can't find any additional info on this (above case info) ? Maybe it is related to their attempt to escape the CD order in Md ?

This is from the Columbia Law School site -


States Begin the Battle Against Mortgage Fraud and Predatory Lending Schemes (September 7, 2007)
AG’s across the country are beginning to take action against home foreclosure crisis. In Texas, AG Greg Abbot has helped create the Texas Residential Mortgage Fraud Task Force. In Connecticut, AG Richard Blumenthal has filed suit against 7 companies and individuals over misleading mortgage schemes that preyed upon low-income borrowers. The state of Virginia has joined Maryland in blocking Metro Dream Homes from offering homeowners mortgage-free living through a complex investment program, citing concerns about potential consumer "harm and economic loss." Iowa's foreclosure trouble has Attorney General Tom Miller working to establish a mediation service between lenders and borrowers.
The Mortgage Mess (September 10)
Foreclosure problems continue for Iowans (September 7, 2007)
Va. Joins Md. in Halting Mortgage Firm's Program (Septmeber 7, 2007)
New task force tackles home-mortgage fraud (broken link) (TX) (September 6, 2007)
State sues real estate firms, brokers, alleging predatory lending (broken link) (CT) (Sept. 5, 2007)
 
Old 09-13-2007, 11:17 AM
 
4 posts, read 33,732 times
Reputation: 11
Quote:
Originally Posted by SoWhatNow View Post
Williams et al v. Lubin

Plaintiffs: Andrew H. Williams, POS Dream Home, LLC, Metropolitan Grapevine, LLC and Laveda Whitefield Defendants: Melaine Senter Lubin Case Number: 8:2007cv02341 Filed: September 4, 2007 Court: Maryland District Court Office: Greenbelt Office [ Court Info ] County: Prince George's Presiding Judge: Judge Roger W Titus Nature of Suit: Other Statutes - Other Statutory Actions Cause: 42:1983 Civil Rights Act Jurisdiction: Federal Question Jury Demanded By: None









I can't find any additional info on this (above case info) ? Maybe it is related to their attempt to escape the CD order in Md ?


It's Melanie - and she is the Securities Commissioner of the State of Maryland
 
Old 09-14-2007, 01:19 PM
 
15 posts, read 40,467 times
Reputation: 12
Default Latest Article in the FreeLance Star

Here is the link to today's article in the FreeLance Star. I think Purplekoolaid told us more though. Thanks for the run down. Anyone more articles in the Post?

Fredericksburg.com - Appeal to overturn stop order is thwarted
 
Old 09-14-2007, 06:04 PM
 
51 posts, read 141,097 times
Reputation: 17
Quote:
Originally Posted by SoWhatNow View Post
It's Melanie - and she is the Securities Commissioner of the State of Maryland
Also, I noticed from reading the court documents that Melanie (the Securities Commissioner) introduced a Curriculum Vitae (Educational background/Job Experience) of Dr. Bland. This is what Purple_Kool_Aid mentioned in his post.
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