Rebecca Hauck, 35, former girlfriend and co-conspirator of Matthew Cox, was sentenced to five years, ten months in federal prison and was ordered to pay restitution of $1.19 Million. Hauck assisted Cox in perpetrating mortgage fraud schemes in Florida, Georgia and South Carolina before she was arrested in Texas in March of this year. Cox remains on the loose.
In trouble’s footsteps an article in the St. Petersburg Times which includes an interview of Hauck states that Cox would sometimes take the IDs of the homeless to use for bank loans by carrying a clipboard, paying them $50 and telling them he was doing a census for the Red Cross or the Salvation Army. According to Hauck, Cox would say “‘You know, the homeless are widely under-utilized.”
In this epedimic of mortgage fraud how is it that you:
1. disentangle victim from criminal and
2. crime from business as usual; especially when you have these Long term Real estate gurus such as Carlton Sheets, Russ Whitney and even Donald Trump (Learning Annex) advertising cash at closing no money down loans etc.
“Building Wealth Through Real Estate”, as if its all legit. If the teachings/techniques are WRONG/UNETHICAL someone need to regulate the industry that’s breeding the WRONG type investors.
I need to know if a buyer can legally get money at the closing table.Also are the classes that are given by the Donald Trumph and other companies regarding gaining wealth thru real estate are legit?