Wallets Get Fat From Risky Business:
Wheeler-Dealer’s Pitches leave some empty Handed. Big Money Is Pocketed In Schemes . Don’t Get Duped

reprint and distribution courtesy of http://www.detroitinvestmenthomes.com/

CONSUMER ALERT
MIKE COX
ATTORNEY GENERAL
The Attorney General provides Consumer Alerts to inform the public of unfair,
misleading, or deceptive business practices, and to provide information and guidance on
other issues of concern.

ADVANCE-FEE LOAN SCAMS
Advance-fee loan or credit card scams are often targeted at people with bad credit. The
scam may start as an ad in the paper, "Bad credit no problem – loans available by calling
1-###-###-####." The consumer is told, "You are qualified, but you must send a fee to
process your application/pay a security deposit/pay for insurance." The victim pays the
money, and no loan or credit card is issued.

RECOGNIZING THE SCAM
The ads offer easy access to loans, regardless of credit history. The advance-fee scammer
may use a false business name and address, often with toll-free 800, 866 or 877 phone
number that is difficult to trace or rings into Canada. Sometimes the scammer will even
use a legitimate company's name or physical office address in the ad. Placement of an ad
in a recognized media outlet does not guarantee that the company placing the ad is
trustworthy.

Consumers calling in response to such ads are taken through a phony application process,
sometimes over the phone or through faxed application forms, and later may receive fake
loan approval documents. In order to receive the approved loan, applicants are directed
to pay money up-front, under the guise of an application fee, a security deposit, for credit
insurance, some other collateral payment, or other service fee. Often, the applicant is
directed to send the payment via wired money transfer, payable to an individual rather
than a business.

Consumers filing complaints with the Michigan Attorney General's Consumer Protection
Division have been directed to wire payments to Canadian addresses. After sending
payment, the loan is never received, and refund attempts are futile. Making matters worse, some scammers have used the information collected from advance-fee loan victims to commit identity theft.

PROTECT YOURSELF: TIPS TO AVOID ADVANCE-FEE LOAN SCAMS
Don't pay for the promise of a loan. While legitimate lenders may charge you a small
amount to process your application and cover the cost of checking your credit, the fees
generally are taken from the amount borrowed. Legitimate offers of credit do not require
an up-front payment.

Ignore any ad, or hang up any caller, that guarantees a loan in exchange for an upfront
fee. Legitimate lenders never guarantee that you will receive a loan before you
apply or before they have checked out your credit status or contacted your references,
especially if you have bad credit or no credit record. Be wary of anyone who tells you
that they can provide loan approval by reviewing information you give over the phone
without a credit check or who says you qualify for a loan at a competitive rate regardless
of your credit history.

Thoroughly investigate loan offers from unfamiliar companies. Ask for the
company's physical location. Check the company's number in the phone book or from
directory assistance, and call it to make sure that you are dealing with the company you
think you are. Check the lender out with the Better Business Bureau. Check out
questionable ads by calling Project Phonebusters in Canada toll-free at 1-888-495-8501.
Don't wire money or send money orders for a loan. You have little recourse if there's a
problem with a wire transaction. Legitimate lenders don't pressure you to wire funds.
Refuse to do business with anyone who encourages you to send money or act
immediately.

Don't make payment to an individual for a loan. No legitimate lending institution
would make such a request.

Steer clear of advance fee offers that promise a credit card with a pre-approved
limit and low interest rates for a fee. To pay the fee, you will be asked to give your
bank account information and authorize an electronic draft to pay the fee. In most cases,
the credit card never materializes, and the consumer's bank account is quickly drained.

FILE A COMPLAINT

Consumers who fall victim to an advance payment loan or credit card scam should
contact the media source that advertised the bogus offer. Responsible advertisers will
terminate these ads and contact law enforcement. Since most advance-fee loan scams
involve a victim in one state and a scam artist in another, report the problem to the
Attorney General's Consumer Protection Division at:
Consumer Protection Division Toll Free: 877-765-8388 www.michigan.gov/ag (online complaint form)

U. S. Department of JusticeFederal Bureau of Investigation
FINANCIAL CRIMES SECTION
CRIMINAL INVESTIGATIVE DIVISION
FINANCIAL CRIMES REPORT TO THE PUBLIC
May 2005

MORTGAGE FRAUD

I. General Overview
The increased reliance by both financial institutions and non-financial institution lenders on third-party brokers has created opportunities for organized fraud groups, particularly where mortgage industry professionals are involved.

Combating significant fraud in this area is a priority, because mortgage lending and the housing market have a significant overall effect on the nation's economy. All mortgage fraud programs were recently consolidated within the Financial Institution Fraud Unit, even where the targeted lender is not a financial institution. This consolidation provides a more effective and efficient management over mortgage fraud investigations, the ability to identify and respond more rapidly to emerging mortgage fraud problems, and a better picture of the overall mortgage fraud problem.

Each mortgage fraud scheme contains some type of "material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase or insure a loan." The Mortgage Bankers Association projects $2.5 trillion in mortgage loans will be made during 2005. The FBI compiles data on mortgage fraud through Suspicious Activity Reports (SARs) filed by federally-insured financial institutions, and Department of Housing and Urban Development Office of Inspector General (HUD-OIG) reports. The FBI also receives complaints from the mortgage industry at large.

A significant portion of the mortgage industry is void of any mandatory fraud reporting. In addition, mortgage fraud in the secondary market is often under reported. Therefore, the true level of mortgage fraud is largely unknown. The mortgage industry itself does not provide estimates on total industry fraud. Based on various industry reports and FBI analysis, mortgage fraud is pervasive and growing.

The FBI investigates mortgage fraud in two distinct areas: Fraud for Profit and Fraud for Housing. Fraud for Profit is sometimes referred to as "Industry Insider Fraud" and the motive is to revolve equity, falsely inflate the value of the property, or issue loans based on fictitious properties. Based on existing investigations and mortgage fraud reporting, 80 percent of all reported fraud losses involve collaboration or collusion by industry insiders. Fraud for Housing represents illegal actions perpetrated solely by the borrower. The simple motive behind this fraud is to acquire and maintain ownership of a house under false pretenses. This type of fraud is typified by a borrower who makes misrepresentations regarding his income or employment history to qualify for a loan.

The defrauding of mortgage lenders should not be compared to predatory lending practices which primarily affect borrowers. Predatory lending typically effects senior citizens, lower income and challenged credit borrowers. Predatory lending forces borrowers to pay exorbitant loan origination/settlement fees, sub-prime or higher interest rates, and in some cases, unreasonable service fees. These practices often result in the borrower defaulting on his mortgage payment and undergoing foreclosure or forced refinancing.

Although there are many mortgage fraud schemes, the FBI is focusing its efforts on those perpetrated by industry insiders. The FBI is engaged with the mortgage industry in identifying fraud trends and educating the public. Some of the current rising mortgage fraud trends include: equity skimming, property flipping, and mortgage related identity theft. Equity skimming is a tried and true method of committing mortgage fraud. Today's common equity skimming schemes involve the use of corporate shell companies, corporate identity theft, and the use or threat of bankruptcy/foreclosure to dupe homeowners and investors. Property flipping is nothing new; however, once again law enforcement is faced with an educated criminal element that is using identity theft, straw borrowers and shell companies, along with industry insiders to conceal their methods and override lender controls.

Property flipping is best described as purchasing properties and artificially inflating their value through false appraisals. The artificially valued properties are then repurchased several times for a higher price by associates of the "flipper." After three or four sham sales, the properties are foreclosed on by victim lenders. Often flipped properties are ultimately repurchased for 50 - 100 percent of their original value.

Since 1999, the FBI has been working to actively investigate mortgage fraud in various cities across the United States. The FBI also focuses on fostering relationships and partnerships with the mortgage industry to promote mortgage fraud awareness. To raise awareness of this issue and provide easy accessibility to investigative personnel, the FBI has provided points-of-contacts to relevant groups including the Mortgage Bankers Association (MBA), the Mortgage Asset Research Institute, the Mortgage Insurance Companies of America, Fannie Mae, Freddie Mac, and others.

The FBI has also been working to establish broader SAR reporting requirements for mortgage lenders who do have adequate protection under the current safe harbor provisions. The FBI is collaborating with the mortgage industry and Financial Crimes Enforcement Network to create a more productive reporting requirement for mortgage fraud. The FBI has also been working with the mortgage industry through the MBA to promote a more efficient and effective method of identifying and reporting fraudulent mortgage activity, otherwise known as, the Suspicious Mortgage Activity Report (SMARt Form) concept.

The FBI works closely with individual lenders, as well as national associations such as the MBA, the Appraisal Institute, the National Association of Mortgage Brokers, and the National Notary Association, to define and combat the mortgage fraud problem. In addition, on a case-by-case basis, the FBI receives close cooperation from lenders. An example of this is the usage of Real Estate Owned properties from lender inventories to facilitate mortgage fraud undercover operations (UCO). In December 2003, the FBI initiated an UCO to address the massive amount of mortgage fraud in the Jacksonville area. On September 16, 2004, as a result of this investigation, seven search warrants were executed and two arrests were made. Mortgage broker J.R. Parker and closing attorney Dale Beardsley, were arrested via complaint, charging them with bank fraud for their role in this alleged scheme. This UCO was made possible by the close cooperation of a local financial institution. This type of cooperation happens around the country and is a key component in the FBI's approach to this growing crime problem.

A recent analysis of mortgage industry fraud surveys identified 26 different states as having significant mortgage fraud problems. Although every survey identified Georgia and Florida as having significant mortgage fraud related investigations, the survey also identified nine other states in the South and Southwest, seven states in the West and five states in the Midwest as having mortgage fraud problems.

II. Overall Accomplishments

II. Significant Cases

REO FLIPWAGON (JACKSONVILLE): In December 2003, the FBI initiated an UCO to address the massive amount of mortgage fraud in the Jacksonville area. On September 16, 2004, as a result of this investigation, seven search warrants were executed and two arrests were made. Mortgage broker J. R. Parker and closing attorney Dale Beardsley, were arrested via complaint, charging them with bank fraud for their role in this alleged scheme.

OPERATION CLEAN DEED (CHARLOTTE): In November 2002, an FBI UCO was initiated utilizing a cooperating witness to introduce undercover FBI Agents into seven organizations involved in a multimillion-dollar mortgage fraud ring. Investigation led to the identification of fraudulent loans which exposed financial institutions and mortgage companies to potential losses of $130 million. On September 16, 2004, informations were filed in U.S. District Court, Western District of North Carolina, charging six individuals with bank fraud for their roles in a multimillion-dollar mortgage fraud.

JAMES MCLEAN; PRESIDENT; ET AL; FIRST BENEFICIAL MORTGAGE COMPANY - VICTIM (CHARLOTTE): A two-year joint investigation by the FBI, the Internal Revenue Service, and HUD-OIG revealed a fraud for profit scheme committed by several insiders of First Beneficial Mortgage Corporation. This two-year fraud was perpetrated against Fannie Mae and Ginnie Mae home loan programs resulting in losses exceeding $30 million. Recently, the president of First Beneficial Mortgage Corporation and six others were convicted on conspiracy, bank fraud, wire fraud, and money laundering charges. The president was sentenced to 21 years in prison, order to pay $23 million in restitution and forfeited about $8 million in property.
MAGGIE CUEVAS; FAG-HUD; FIF (LOS ANGELES): A joint investigation conducted by the Los Angeles FBI Office and HUD-OIG illustrated an extensive scheme in which fraudulent identification and employment documents were used to perpetrate mortgage frauds. The scheme was largely assisted by an individual who regularly manufactured false identity and income documents for a profit. This document forger created W-2s, pay stubs, credit letters and social security printouts over an eight-year period. These documents were used by real estate professionals who knowingly submitted the falsified information to lending institutions. The loans were then insured by HUD and caused a loss to that agency of more than $18 million. A search warrant executed during the investigation revealed more than 100 real estate professionals had ordered false documents in the past. To date, the document forger and six associates have been convicted in the scheme, as well as 14 real estate professionals.
BRENT BARBER dba MIDTOWNE RESTORATION, L.L.C (KANSAS CITY): A two-year joint investigation conducted by the Kansas City FBI Office, IRS, and HUD-OIG culminated on August 13, 2004 with the arrest of Brent Barber, real estate investor. Barber, along with his three business associates were charged in U.S. District Court for their alleged roles in purchasing run-down properties, securing fraudulent appraisals, and obtaining mortgages in the names of straw purchasers. It is alleged that the straw purchasers were paid $2,000 for their role in the scheme whereby they placed properties in foreclosure, leaving Barber and his associates with the mortgage proceeds. This scenario was repeated approximately 300 times, resulting in losses to lending and financial institutions in excess of $15 million.

MORTGAGE FRAUD INDICATORS

Inflated Appraisals• Exclusive use of one appraiser
Increased Commissions/Bonuses - Brokers and Appraisers• Bonuses paid (outside or at settlement) for fee-based services• Higher than customary fees
Falsifications on Loan Applications• Buyers told/explained how to falsify the mortgage application• Requested to sign blank application
Fake Supporting Loan Documentation• Requested to sign blank employee or bank forms• Requested to sign other types of blank forms
Purchase Loans Disguised as Refinance• Purchase loans that are disguised as refinancesrequires less documentation/lender scrutiny
Investors-Short Term Investments with Guaranteed Re-Purchase• Investors used to flip property prices for fixed percentage• Multiple "Holding Companies" utilized to increase property values

COMMON MORTGAGE FRAUD SCHEMES

Property Flipping - Property is purchased, falsely appraised at a higher value, and then quickly sold. What makes property illegal is that the appraisal information is fraudulent. The schemes typically involve one or more of the following: fraudulent appraisals, doctored loan documentation, inflating buyer income, etc. Kickbacks to buyers, investors, property/loan brokers, appraisers, title company employees are common in this scheme. A home worth $20,000 may be appraised for $80,000 or higher in this type of scheme.

Silent Second - The buyer of a property borrows the down payment from the seller through the issuance of a non-disclosed second mortgage. The primary lender believes the borrower has invested his own money in the down payment, when in fact, it is borrowed. The second mortgage may not be recorded to further conceal its status from the primary lender.
Nominee Loans/Straw Buyers - The identity of the borrower is concealed through the use of a nominee who allows the borrower to use the nominee's name and credit history to apply for a loan.

Fictitious/Stolen Identity - A fictitious/stolen identity may be used on the loan application. The applicant may be involved in an identity theft scheme: the applicant's name, personal identifying information and credit history are used without the true person's knowledge.

Inflated Appraisals - An appraiser acts in collusion with a borrower and provides a misleading appraisal report to the lender. The report inaccurately states an inflated property value.

Foreclosure Schemes - The perpetrator identifies homeowners who are at risk of defaulting on loans or whose houses are already in foreclosure. Perpetrators mislead the homeowners into believing that they can save their homes in exchange for a transfer of the deed and up-front fees. The perpetrator profits from these schemes by remortgaging the property or pocketing fees paid by the homeowner.

Equity Skimming - An investor may use a straw buyer, false income documents, and false credit reports, to obtain a mortgage loan in the straw buyer's name. Subsequent to closing, the straw buyer signs the property over to the investor in a quit claim deed which relinquishes all rights to the property and provides no guaranty to title. The investor does not make any mortgage payments and rents the property until foreclosure takes place several months later.

Air Loans - This is a non-existent property loan where there is usually no collateral. An example of an air loan would be where a broker invents borrowers and properties, establishes accounts for payments, and maintains custodial accounts for escrows. They may set up an office with a bank of telephones, each one used as the employer, appraiser, credit agency, etc., for verification purposes.

Mortgage Fraud Prevention Measures
General Fraud Tips

Mortgage Fraud is a growing problem throughout the United States. People want to believe their homes are worth more than they are, and with housing booms going on throughout the U.S., there are people who try to capitalize on the situation and make an easy profit.
Tips to protect you from becoming a victim of Mortgage Fraud

• Get referral for real estate and mortgage professionals. Check the licenses of the industry professionals with state, county, or city regulatory agencies.

• If it sounds too good to be true, it probably is. An outrageous promise of extraordinary profit in a short period of time signals a problem.

• Be wary of strangers and unsolicited contacts, as well as high-pressure sales techniques.

Look at written information to include recent comparable sales in the area, and other documents such as tax assessments to verify the value of the property.

• Understand what you are signing and agreeing to--If you do not understand, re-read the documents, or seek assistance from an attorney.

• Make sure the name on your application matches the name on your identification.

• Review the title history to determine if the property has been sold multiple times within a short period--It could mean that this property has been "flipped" and the value falsely inflated.

• Know and understand the terms of your mortgage--Check your information against the information in the loan documents to ensure they are accurate and complete.

• Never sign any loan documents that contain blanks--This leaves you vulnerable to fraud.• Check out the tips on the Mortgage Bankers Association's (MBA) website at http://www.StopMortgageFraud.com for additional advice on avoiding mortgage fraud.
Mortgage Debt Elimination Schemes

• Be aware of e-mails or web-based advertisements that promote the elimination of mortgage loans, credit card and other debts while requesting an up-front fee to prepare documents to satisfy the debt. The documents are typically entitled Declaration of Voidance, Bond for Discharge of Debt, Bill of Exchange, Due Bill, Redemption Certificate, or other similar variations. These documents do not achieve what they purport.


• There is no magic cure-all to relieve you of debts you incurred.

• Borrowers may end up paying thousands of dollars in fees without the elimination or reduction of any debt.

Foreclosure Fraud Schemes

Perpetrators mislead the homeowners into believing that they can save their homes in exchange for a transfer of the deed, usually in the form of a Quit-Claim Deed, and up-front fees. The perpetrator profits from these schemes by remortgaging the property or pocketing fees paid by the homeowner without preventing the foreclosure. The victim suffers the loss of the property as well as the up-front fees.

• Be aware of offers to "save" homeowners who are at risk of defaulting on loans or whose houses are already in foreclosure.• Seek a qualified Credit Counselor or attorney to assist.Predatory Lending Schemes

• Before purchasing a home, research information about prices of homes in the neighborhood.• Shop for a lender and compare costs. Beware of lenders who tell you that they are your only chance of getting a loan or owning your own home.• Beware of "No Money Down" loans--This is a gimmick used to entice consumers to purchase property that they likely cannot afford or are not qualified to purchase. Be wary of mortgage professional who falsely alter information to qualify the consumer for the loan.

• Do not let anyone convince you to borrow more money than you can afford to repay.

• Do not let anyone persuade you into making a false statement such as overstating your income, the source of your down payment, or the nature and length of your employment
.
• Never sign a blank document or a document containing blanks

.• Read and carefully review all loan documents signed at closing or prior to closing for accuracy, completeness and omissions.

• Be aware of cost or loan terms at closing that are not what you have agreed to.

• Do not sign anything you do not understand.

• Be suspicious if the cost of a home improvement goes up if you accept the contractor's financing.

• If it sounds too good to be true--it probably is!

Loan Giant loses its Mich. license

Tuesday, May 23, 2006

Mortgage lender admits to nearly a dozen types of improper or illegal lending practices.

Brian J. O'Connor / The Detroit News

The parent company of troubled sub-prime mortgage lender Loan Giant has lost its license to make loans in Michigan and has been slapped with more than $273,000 in fines and investigative costs by the state's Office of Financial and Insurance Services.

According to a bulletin from the Gongwer News Serivce, Southfield-based World Wide Financial Services Inc. has agreed not to contest the fines and admitted to engaging in nearly a dozen types of illegal or improper lending practices.

Those violations include providing false data on loan applications, transmitting improper payoff information, failing to maintain proper record of loan applications, failure to properly notify borrowers of loan denials, failure to maintain sufficient escrow funds and failure to provide annual statements of borrower accounts for loans it serviced.

"Loan Giant was a super-sized bad actor," Commissioner Linda A. Watters said. "Their illegal activities eventually caught up with them."

In September 2004, the office ordered World Wide to stop violating Michigan law and to stop engaging in fraud, deceit or material misrepresentation in connection with mortgage lending. The orders followed an investigation prompted by consumer complaints to the state.

The investigation uncovered "phantom" loan transactions that involved home purchase mortgages that did not conform with the requirements for resale in the secondary market. Instead of issuing the mortgages, Loan Giant would immediately refinance the loans and sell them to lenders who didn't know the original mortgages had never been granted.

At the time, Loan Giant was one of the state's larger mortgage lenders, having processed more than 6,500 first and second mortgage loans in 2003. The sub-prime market for mortgages charges higher-than-normal interest rates to borrowers with tarnished or badly damaged credit. Critics say the loans can be "predatory," and often include onerous charges and conditions, including high costs and prepayment penalties.

Previously, Loan Giant had been forced to repurchase delinquent loans sold to GMAC Residential Funding Corp. GMAC reportedly sued World Wide in February 2004, alleging that loans purchased from Loan Giant contained false employment data on borrowers and inflated property values. World Wide's authority to make FHA loans was terminated by HUD effective June 2004.

According to state documents, Loan Giant is headquarted on Northwestern Highway in Southfield. Principal officers and owners of Loan Giant are Jack B. Wolfe, chief executive officer; Andrew C. Jacob, president; Howard M. Babcock, chief financial officer; and Robert S. Silverstein, chief operating officer. At one time, the company had as many as 265 employees and spent up to $350,000 a month in advertising, according to published reports.

After losing its ability to fund loans through GMAC and after being hit with the state's cease and desist order, World Wide was sued in 2005 by another creditor, GE Commercial Finance Business Property Corp., and filed for Chapter 11 bankruptcy protection in October 2005, claiming assets of no more than $10 million but with debts of as much as $50 million.
At the time, Wolfe issued a statement that said the problems were "basically the result of the actions of a few bad actors who are no longer with us. The bad actors operated independent of the Company, without our knowledge."

THIS IS A REPUBLISHED ARTICLE SUBMITT BY MARK MAUPIN

Foreclosure Rates Cities with Highest Home Foreclosure in First Quarter of 2006

Tuesday, May 23, 2006

Sarah Ryley / The Detroit News

Foreclosure ratesCities with highest home foreclosure rates in first quarter of 2006. (Percentage of homes in foreclosure) 1. Indianapolis (1.45) 2. Atlanta (1.42) 3. Dallas (1.01) 4. Memphis, Tenn. (0.99) 5. Denver (0.95) 6. Detroit (0.83) 7. Jacksonville, Fla. (0.75) 8. San Antonio (0.75) 9. Canton, Ohio (0.72) 10. Las Vegas (0.71) Source: RealtyTrac, 2006 U.S. Metropolitan Foreclosure Market Report



DETROIT -- Metro Detroit ranks sixth among U.S. metropolitan areas in the percentage of homes in some stage of foreclosure, according to a new study to be released today.

One out of 120 Metro Detroit homes was in foreclosure in the first quarter of 2006 because their owners fell behind on payments, according to the 2006 U.S. Metropolitan Foreclosure Market Report, which ranked the nation's 100 metropolitan areas.

The study by RealtyTrac, an online marketplace for foreclosed properties, is another sign that Metro Detroit's battered economy is taking a heavy toll on residents.

Some real estate professionals say the situation may get worse in the coming months.
"None of the people in this market knows what their future is going to be," said Bob Mackenzie, a foreclosure specialist for Real Estate One in St. Clair Shores.

Mackenzie said he expects southeast Michigan's real estate market to "bottom out" after the United Auto Workers and supplier Delphi Corp. reach an agreement in their current labor dispute, because it will drive down wages in the region.

Metro Detroit was topped by Indianapolis, Atlanta, Dallas-Fort Worth, Memphis, Tenn., and Denver.

In Indianapolis, one in 69 homes was in foreclosure. Because of the Detroit region's size, it ranks third in the number of homes in foreclosure --18,402 in the first quarter.

"It's directly the result of Ford, GM and Chrysler," said Bob Schneider, an agent for Real Estate One in Troy who deals mainly with foreclosed properties.

"I knock on these doors and it's, 'I lost my job, I lost my job, I lost my job.' "
Michigan's unemployment rate has risen for the third straight month, to 7.2 percent, well above the national average of 4.7 percent, largely due to struggles in the auto industry.

Although Wayne County has long led the nation in foreclosures, in part due to mortgage fraud, foreclosures in Oakland and Macomb counties have been steadily increasing for the past three years, Mackenzie said.

"There are about 75 (homes) that go into foreclosure every Tuesday in Oakland and 60 to 65 every Friday in Macomb," Schneider said.

When people lose their homes to foreclosure, everybody on the block is affected.
"When the banks gets these homes back, typically they don't spend a lot to maintain them and they sell them for a lower price than the occupied homes," decreasing property values, and equity, for everyone, Mackenzie said.

Patrick Anderson, founder of Anderson Economic Group in Lansing, a consulting firm, said the fact that the Detroit Metro region has a lower foreclosure rate than more prosperous regions such as Denver "indicates some of that resilience of Detroiters during tough economic times."
"Michigan citizens have endured more ups and downs, and that has led them to be more conservative about their investments," Anderson said.

Patrick Gibbard, a loan officer for the Prime Financial Group Inc. in Lake Orion, suggested homeowners look into options such as a 40-year mortgage to help fend of foreclosure if they find themselves in a situation where they can't make their payments.

Otherwise, he said, borrowers often find themselves in a more difficult situation when late fees, higher minimum payments and higher interest rates, due to a lowered credit score, pile up.
According to the RealtyTrac study, several Gulf Coast cities -- New Orleans; Mobile, Ala.; Baton Rouge, La.; and Jackson, Miss. -- documented foreclosure rates among the nation's 10 lowest because many defaulted properties in the region are protected by a foreclosure moratorium imposed by the U.S. Department of Housing and Urban Development because of Hurricane Katrina.

You can reach Sarah Ryley at (313) 222-2536 or sryley@detnews.com.

Former Michigan School Official and Wife Arrested for Role in $7.3 Million Fraud Scheme

5/24/2006 3:26:00 PM

To: National Desk

Contact: U.S. Department of Justice, 202-514-2007, 202-514-1888 (TDD)

WASHINGTON, May 24 /U.S. Newswire/ -- A former Michigan school official and his wife were arrested today for their alleged role in a fraudulent scheme to obtain almost $7.3 million from Ecorse public schools and the federal E-Rate program, the Department of Justice announced. A federal grand jury in Detroit returned an indictment yesterday against Douglas A. Benit and Mary Ann Elam Benit, which was unsealed today upon their arrests.

The nine-count indictment charges that Benit, a former Assistant Superintendent at Ecorse Public Schools, together with his wife, used Benit's official position to steer contracts at Ecorse Public Schools to Coral Technology Inc. (Coral), an Ohio corporation under Benit's control. The Department alleges that some of the contracts were awarded at inflated prices.

"The Antitrust Division will continue to vigorously pursue those who cheat the competitive process and who violate the public's trust such as by stealing from federal programs and taking advantage of lending institutions," said Thomas O. Barnett, Assistant Attorney General in charge of the Department's Antitrust Division. The indictment charges both Benits and Coral with one count of conspiring to commit federal program fraud and mail and wire fraud from March 16, 1998 to Oct. 7, 2003 in relation to school contracts steered to Coral and one count of mail fraud in relation to a Coral application for an E-Rate funded project in the Ecorse public schools.

Douglas Benit is charged with two counts of federal program fraud relating to school purchases of vocational labs and payments required under the federal E-Rate program. Douglas Benit is also charged with one count of mail fraud in relation to a September to November 2005 scheme to defraud First One Lending Corporation, based in California, and New Century Mortgage Company in obtaining a $893,750 mortgage. Douglas Benit and Coral are charged with two counts of wire fraud in relation to wire transmissions made in 2001 and 2002 to further the scheme to defraud the Ecorse public schools and the E-Rate program.
Benit and his wife are charged with bank fraud in relation to a December 2002 to April 2003 scheme to defraud TCF National Bank, based in Minnesota, in causing the bank to issue Douglas Benit a $200,000 line of credit.

The indictment charges both Benits, Coral and another company under their control, School Management Services Inc., a Michigan corporation, with conspiring to launder the fraudulently obtained money from Aug. 12, 1999 to Oct. 21, 2003. The indictment alleges that one purpose of the money laundering conspiracy was to purchase and make improvements to Douglas Benit's residence in Superior Township, Mich.

Including today's filing, 13 individuals and 12 companies have been charged as part of the Department's ongoing antitrust investigation into fraud and anticompetitive conduct in the E- Rate program. Six companies and three individuals have either pleaded guilty or have entered into civil settlements. Thus far, the defendants have agreed to pay criminal fines and restitution totaling more than $40 million. Two of the individuals have each been sentenced to serve six years in prison.

The E-Rate program provides funding for Internet access and other telecommunications services to economically disadvantaged schools and libraries. Under the E-Rate program, which was created by Congress in the Telecommunications Act of 1996, schools apply for monies for networking infrastructure, communications equipment, and monthly connectivity service fees.
The fraud conspiracy charge, a violation of 18 U.S.C. § 371, carries a maximum penalty of five years in prison and/or a $250,000 fine for individuals or $500,000 for corporations. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either amount is greater than the statutory maximum fine.
The federal program fraud charges, a violation of 18 U.S.C. § 666, carry a maximum penalty of 10 years in prison and/or a $250,000 fine for individuals per count. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either amount is greater than the statutory maximum fine.

The mail and wire fraud charges, a violation of 18 U.S.C. §§ 1341, 1343, & 1346, carry a maximum penalty of five years in prison for violations committed before July 30, 2002, or 20 years for violations committed on or after that date, and/or a $250,000 fine for individuals or $500,000 for corporations per count. The maximum fine may be increased to twice the gain derived from the crime or twice the loss suffered by the victims of the crime, if either amount is greater than the statutory maximum fine.

The bank fraud charge, a violation of 18 U.S.C. § 1344, carries a maximum penalty of 30 years in prison and/or a $1 million fine.

The money laundering conspiracy charge, a violation of 18 U.S.C. § 1956(h), carries a maximum penalty of 20 years in prison and a fine of not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or both. The indictment also seeks forfeiture on all counts of property involved in or derived directly or indirectly from the alleged offenses.

The investigation is being conducted jointly by the Antitrust Division's Cleveland Field Office and the Detroit office of the Federal Bureau of Investigation. Anyone with information concerning fraud or anti-competitive conduct should contact the Cleveland Field Office of the Antitrust Division at 216-522-4070.

http://www.usnewswire.com/
-0-
/© 2006 U.S. Newswire 202-347-2770

Michigan has been hard hit with foreclosoures and mortgage fraud!

20 face mortgage fraud charge

FBI: Group enlisted appraisers, buyers, even mortgage firms to cheat banks out of millions.

By David Shepardson / The Detroit News


DETROIT -- Federal prosecutors charged 20 people Tuesday with defrauding banks of more than $10 million in mortgage fraud scams perpetrated by loan officers, fraudulent buyers and real estate appraisers.

The FBI says mortgage fraud has grown to more than $1 billion annually across the United States and has more than tripled in Michigan since 2003, with at least $29 million in mortgage fraud in Michigan last year.

The 2 1/2 -year FBI investigation found evidence that at least five organizations were defrauding banks out of millions, said John Gillies, an assistant special agent in charge of the Detroit FBI.

More than 125 FBI agents, Michigan State Police and local officers arrested 17 of the 20 people charged Tuesday, while executing seven search warrants, including one at Source One Mortgage in Shelby Township. A Woodland Hills, Calif., man and two Detroiters haven't been arrested.
Generally, the defendants bought distressed properties and used "straw buyers" -- or people with good credit, but not necessarily a good income -- "to purchase property at a value well above its fair market value," said the FBI's case agent, John Ryan. An appraiser, in collusion with the seller, then inflates the value of the home, he said. After the bank approves the loan, Ryan said, "the seller kicks back the excess funds to participants in the scheme."
They often provided sellers with phony W-2 forms, check stubs and rental histories. To check employment status, they simply gave banks a cell phone number to one of the people in the scheme.

The 20 were charged with numerous felonies in U.S. District Court in Detroit, including conspiracy, mail fraud and wire fraud.

Those charged include 19 Michigan residents: six Southfield residents, six Detroiters, two West Bloomfield residents and one each from Southgate, Grosse Pointe Park, Oak Park, Farmington Hills and Westland. All but one of the 17 arrested was released on a personal bond by U.S. Magistrate Judge Mona Mazjoub.

"Honesty and integrity in the mortgage lending business are crucial to protecting home owners, lending institutions and borrowers," said U.S. Attorney Stephen J. Murphy in announcing the arrests. "When mortgage fraud is widespread, it undermines the stability of the housing market and the ability of lending institutions to protect themselves from debilitating losses.'
Murphy said this activity makes banks much more suspicious and makes it more difficult for poor people to obtain loans.

Most of the homes involved were distressed properties in Detroit that were overvalued in order to obtain large loans by people using phony names. They then defaulted on the loans. Two were in West Bloomfield Township, and other suspicious transactions were in Birmingham and Southfield.

In some cases, the FBI believes the mortgage companies knew of the wrongdoing, while others were by individual mortgage brokers.

Three FBI agents from out of state went undercover posing as sellers and buyers of homes -- in some cases using homes provided by banks that had been ripped off. The FBI created phony credit histories and jobs for the agents.

In one case, an undercover FBI agent said he made $19,000 a year; he was able to obtain an $88,400 mortgage from loan officers who created a phony job and landlord for him.

The FBI's special agent in charge in Detroit, Daniel D. Roberts, said the use of undercover agents was critical. "Mortgage fraud generally requires 'insider' involvement," Roberts said.

The FBI was first tipped to the scams by banks that reported suspicious transactions. The U.S. attorney is seeking the forfeiture of at least $2.7 million from six of the 20 who were indicted by a grand jury last week. Prosecutors may seek additional forfeitures later.

The FBI and Justice Department will announce the results of a nationwide initiative next week.
You can reach David Shepardson at (313) 222-2028 or dshepardson@detnews.com.

republished by Ralph Mark Maupin

Michigan Foreclosure, Bankruptcy, Risky Real Estate Leaves You Empty-handed!

Investors and Homeowners Learn Ralph Mark Maupin’s Life experiences what not to do!

Real Estate Seminar That Covers: Where Do You Find Great Bargains, Pre-Foreclosures and What do When Do!

( EMAILWIRE.COM, May 29, 2006 ) Pre-foreclosures can offer and excellent opportunity to purchase homes for below market value and help distressed homeowners avoid foreclosure, but just how does one go about buying repo houses. What is it you need to know to find foreclosed homes and use them to create wealth in real estate for yourself, while someone avoid foreclosure. We have all seen the “we buy houses for cash” signs and slogans, but how exactly do we get started in pre-foreclosures. What does it mean when you hear the words “Short sale”, Loss Mitigation, How do you properly cure foreclosures, and why is that important. What about due on sale clauses? Where and when do “rent to own” and “lease option” techniques apply? How do you negotiate win-win deals for everyone involved? How do I analyze the deal to determine possible profits and avoid liability issues?

One place you can go to get support and answers are local websites that address current issues and concerns, offer support, and bring to your attention to current news and information that can affect your success.

Our favorite web page can be found at the following link: www.detroitinvestmenthomes.com Just click on pre-foreclosure lists and it will take you to Default Research. This web page offers you a range of support --from information and education on being effective in pre-foreclosures, they also lists their favorite book recommendation, They have a chat area addressing questions in pre-foreclosure addressed by various experts, give pertinent current news and litigation effecting pre-foreclosures, and finally actually provide lists of pre-foreclosed properties in the state that you can purchase for a nominal fee.

Another avenue you can utilize in getting started is to take classes and seminars on the subject. Find a mentor, and read up on the many books on the subject.

National Real Estate Network LLC has set up ongoing Seminars for new and experienced investors. Mark Maupin, Mr. Wheeler-dealer and Mr. Lease Option, has been investing in real estate since 1981 with over 3500 purchases and sales on single-family homes and multi-family properties. Mr. Maupin will be giving the seminar for both new and experienced investors.

The seminar will be on June 26, 2006 at Budget Reality, LLC. Located at 17177 Laurel Park Drive North, Suite 265, Livonia, Michigan. Time of event is 6:00pm to 8:00pm Mr. Mark Maupin, Roy Frank, and Toni Nayback will be answering all investor questions on how to get started. Investor Topics to be covered:

* Real Estate Terms (a disk of over 20 real estate forms) will be given to those who attend including: buyer favor purchase agreements, real rental agreements.

* How to get started without putting yourself at risk (no dollars no liability).

* In-depth resources available in this market that are free or have very low cost.

In addition, Toni and Mark will be doing a complete presentation at 7:30 pm on The Preferred Investor Group, a one year mentoring program designed to have you reach your Real Estate Goals. This program gives new and experienced investors the following value, to which questions from the group will be addressed. You get the first chance at incredible real estate buys at wholesale prices. The properties, each with a financial analysis, are given to you to review before they are offered to the general public. Ten one-day Seminars:

Find, Fix and Sell, Landlord,
Package Yourself to Lenders and Restore Buyers Credit,
Options Buy and Sell, Foreclosure, Land Contract and Paper,
Financial Calculator,
Purchase Agreement,
Rehabbing Investment Homes for Profit,
How to Generate Real Estate Leads, and Turn Them into Cash

Three CD Books on Real Estate:

A. Find, Fix and Sell: Real world techniques and ways to buy property, renovate, and re-sell it at a profit. What properties to look for, realtors, comparables, and MLS, financing sources of distressed property, fixing terms, the anatomy of a flip, fliers, business cards, and brochures you can customize to use for yourself, list of websites with REO (foreclosed properties) on them.

B. Michigan Real Estate Agreements and Contracts: A practical guide to understanding, structuring, and using real estate agreements and contracts, plus over 60 real estate forms. This book, on CD, will give you a quick basic understanding of how and why real estate agreements are structured and written the way they are. This will give you access to understanding and structuring any real estate agreement you use to your benefit. Also included on the CD are approximately 60 real estate forms that have been developed over the past 14 years, covering most aspects of real estate, including purchase agreements and addendums, options and leases, land contracts, mortgage forms, and disclosures required by state law, designed from the investors viewpoint and for his protection.

C. Mastering Real Estate Options: A complete guide to real estate options covering all aspects of legal structuring, taxation, rights of first refusal, first offer, leasing with an option to purchase and more.

Over 50 Hours of Coaching, Training, and Support on buying investment properties. Sessions meet regularly to answer your questions and help you make the decision to take action.

Membership to National Real Estate Network, LLC. The leading Michigan Investor group. Information on upcoming seminars may be viewed at www.megaeveningevent.com or www.mrleaseoption.com

Contact: National Real Estate Investors Network Mark Maupin Tel: 734-402-0180 © 2006

GroupWeb.com. All rights reserved.

Top Dollar Exits, For Bad Real Estate Buys!

The “Step By Step Guide to Exit Real Estate at Top Dollar Prices” By Ralph Mark Maupin, Mr. Lease Option

A few years ago, I had over 300 rental properties; I was over-buying more properties than I could manage. Things were out of control. The following is a Lease with Option to Buy Program; I put together to sell most of those rental properties. “This Lease with an Option to Buy Program” resulted in the following:

1. Long term tenants who pay above market rent
2. Tenants who are showing pride in ownership, and making improvements to the property
3. Sales that would not of happened otherwise, at above market prices

Tenants might not necessarily know the meaning of Lease with Option to Buy, but they do know the term, Rent to Own! RENT TO OWN otherwise know as Lease Options: This is a tool that you will absolutely want to include in your "toolbox" of investment strategies- especially homeowners in slow moving markets or investors purchasing property for re-sale.

First, let's clear up some "slang" terms often used with these that create confusion: Rent to Own, Lease Option, Lease with Option to Purchase all mean the same thing. Rent and lease mean the same thing; a lease is simply a rental agreement that is for a set period of time whereas people often refer to month-to-month situations as rentals.

BENEFITS of doing Lease Options- Let's look at what that you can expect when you offer your property on a Lease with Option to Buy: More interested tenants More qualified tenants Higher monthly income from your property Higher sales prices Reduced maintenance expenses

1. If you place an ad for your property offering a lease with Option to buy, you can generally expect five times the number of responses to the “Rent to Own” add than you get from a regular "For Rent" ad. More People are looking for an opportunity to own their own home, than just continue to rent.

2. The tenants that you get calls from will be people who are more responsible and serious about taking care of “their future home”.

3. Traditionally, with a lease option, you will receive a monthly payment towards the option fee in addition to the monthly rent, thereby increasing your monthly cash flow.

4. Since you are working with people who often aren't immediately able to purchase a home outright, you are providing them with the opportunity to own property where they couldn't otherwise.


What is an OPTION? An option is a grant of the right to purchase property, at set price and terms, from the owner of the property. The person who receives the option can (but is not required to) purchase the property during a set period of time agreed to by both parties when they enter the option.

An option is different from an agreement to sell (Purchase Agreement) in that with a Purchase Agreement, the buyer agrees to buy and the seller agrees to sell. Under an option, the seller agrees to sell, but the buyer does not agree to buy, they simply have the option of buying during the option period. Note: In an Option, the Seller is the Optionor (The one who gives the Option) and the Buyer is known as the Optionee (The one who receives the Option.

What is needed to SET UP a Lease with Option to Buy?

To set up a Lease with Option to Purchase with a tenant, you will need all of the documents you would normally use to set up a simple rental/lease. (Rental Agreement, You can visit our web site for free rental agreement at: http://mrleaseoption.com/ In addition, you will need an Option agreement, and you want to be sure that you're using one that protects you as the Optionor, as many option forms available favor the Optionee.

Attached to the Option will be a Purchase Agreement, which will spell out the terms of the sale that the tenant may purchase under, in the future. How to STRUCTURE a Lease Option- Over the years, we have found the following to be a good guideline for structuring Lease Options:

1. Charge market rent. Don't give discounts on rent just because the tenants are also paying you a monthly option fee or they are planning on buying the house. The option is separate from the rental agreement.

2. Get as much option fee as you can up front, the more the perspective tenants pay up front, the greater their risk will be if they don't follow through. We will take a note and payments combined with cash as option fee. The option fee is non refundable in the event the tenant defaults. The note keeps the tenant at risk. The option fee is credited towards the sale price, if they close.

3.When doing an option, don't charge a security deposit; apply the funds the tenant would have paid to the option fee, which is non-refundable.

4. Make your option cancelable by you if the tenants default in any of the terms of the rental/lease.

5. Work with a mortgage loan officer to qualify your perspective tenants. Have the loan officer advise you on how long it will take to have the tenant "mortgage ready", then set your lease option term accordingly.

6. When pricing your property, you will be able to get more than market price, but remember the property will have to appraise for the purchase price when they qualify for the mortgage.

7. rental agreement states they are responsible for the cost of such repairs and renovations. (Check state and local laws for rules) As you can see, options create opportunity though creating larger profits, decreasing management and repairs, and selling your property at top dollar.

Mark Maupin 248-939-6232
Contact information: http://www.mrleaseoption.com/ http://www.megaeveningevent.com/ www.detroitinvestmenthomes.com
© 2006 GroupWeb.com. All rights reserved.

Free Beginning Investors Club On How to Get Started in the Real Estate Business, held in Livonia, Michigan!

Where Do New Investors Go To Find Knowledge, Specialized Training, Resources, Real Estate Clubs, Groups, Networks, & Associations?

( EMAILWIRE.COM, May 23, 2006 ) Livonia, MI -- National Real Estate Network LLC has set up ongoing Seminars for new and experienced investors. RALPH Mark Maupin, Mr. Lease Option, & Mr. Wheeler- Dealer has been investing in real estate since 1981 with over 3500 purchases and sales on single-family homes and multi-family properties. Mr. Maupin will be giving the seminar for both new and experienced investors.

The seminar will be on June 26, 2006 at Budget Reality, LLC. Located at 17177 Laurel Park Drive North, Suite 265, Livonia, Michigan. Time of event is 6:00pm to 8:00pm Mr. Mark Maupin will be answering all investor questions on how to get started. Investor Topics to be covered:
* Real Estate Terms (a disk of over 20 real estate forms) will be given to those who attend including: buyer favor purchase agreements, real rental agreements.
* How to get started without putting yourself at risk (no dollars no liability).
* In-depth resources available in this market that are free or have very low cost.

In addition, Mark will be doing a complete presentation at 7:30 pm on The Preferred Investor Group, a one year mentoring program designed to have you reach your Real Estate Goals. This program gives new and experienced investors the following value, to which questions from the group will be addressed.

You get the first chance at incredible real estate buys at wholesale prices. The properties, each with a financial analysis, are given to you to review before they are offered to the general public. Ten one-day Seminars:

Find, Fix and Sell, Landlord,
Package Yourself to Lenders and Restore Buyers Credit,
Options Buy and Sell,
Foreclosure,
Land Contract and Paper,
Financial Calculator,
Purchase Agreement,
Rehabbing Investment Homes for Profit,
How to Generate Real Estate Leads, and Turn Them into Cash

Three CD Books on Real Estate:

A. Find, Fix and Sell: Real world techniques and ways to buy property, renovate, and re-sell it at a profit. What properties to look for, realtors, comparables, and MLS, financing sources of distressed property, fixing terms, the anatomy of a flip, fliers, business cards, and brochures you can customize to use for yourself, list of websites with REO (foreclosed properties) on them.

B. Michigan Real Estate Agreements and Contracts: A practical guide to understanding, structuring, and using real estate agreements and contracts, plus over 60 real estate forms. This book, on CD, will give you a quick basic understanding of how and why real estate agreements are structured and written the way they are. This will give you access to understanding and structuring any real estate agreement you use to your benefit. Also included on the CD are approximately 60 real estate forms that have been developed over the past 14 years, covering most aspects of real estate, including purchase agreements and addendums, options and leases, land contracts, mortgage forms, and disclosures required by state law, designed from the investors viewpoint and for his protection.

C. Mastering Real Estate Options: A complete guide to real estate options covering all aspects of legal structuring, taxation, rights of first refusal, first offer, leasing with an option to purchase and more.

Over 50 Hours of Coaching, Training, and Support on buying investment properties. Sessions meet regularly to answer your questions and help you make the decision to take action. Membership to National Real Estate Network, LLC.

The leading Michigan Investor group and club. Information on upcoming seminars may be viewed at www.megaeveningevent.com or www.mrleaseoption.com

CALL 734-402-0180 ext 110 ASK FOR URVI FOR INFORMATION

© 2006 GroupWeb.com. All rights reserved

How to achieve success in today’s Real Estate Market

On June 15, 2006 at 6:00 p.m. – Kimberlee Frank is scheduled to speak at the Mega Event Meeting which is being held at Laurel Manor, 39000 Schoolcraft Road, Livonia, Michigan 48150.

Kimberlee Frank will provide the most sought after secrets of today’s Michigan real estate market. Those include, the benefits of owning real estate in Michigan, why to buy and hold, why to flip properties, what paperwork you need, and how you can get paid to buy and hold a home. This information is a must for anyone working the Michigan real estate market. You can catch Kimberlee on June 15, 2006 at 6:00 p.m. at the Mega Event Meeting. Over the past years Kimberlee has produced many successful students in the real estate investing world. She has developed a unique approach to the struggling market and still has students cashing large checks.

For more information on Kimberlee’s successful students you can logon to http://www.realestatejunkie.com/ and click on the testimonial page. Kimberlee’s story is also featured on page 101 in Ron Legrand’s book titled “How to become a QuickTturn Real Estate Millionaire”. Some of her students can be seen monthly at your local real estate meetings or groups. Kimberlee has been providing secretive knowledge in real estate investing which is based on her own experience. Her systematic approach to investing has been highly recognized by other national speakers and has prepared the everyday individual for what they can expect to endure as a real estate investor in today’s economy. Anyone trying to keep up with today’s market in Michigan, whether it be mortgage programs for investor, first time home buyers, what’s hot and what’s not this information is a must.


For more information regarding the June 15, 2006 Mega Event Meeting please contact Urvi or Nakia at (734) 402-0180. National Real Estate Network, LLC. http://www.megaeveningevent.com/ 17177 N. Laurel Park Dr., Ste. 265 Livonia, MI 48152 Phone 734-402-0180 © 2006 GroupWeb.com. All rights reserved.

Corey Perlman will take you step-by-step through creating your own powerful, money-generating website. Bring your laptop (and your thinking caps!) for this upcoming Mega Evening Event.

Internet Marketing Expert, Corey Perlman, to appear at National Real Estate Network.

Members of National Real Estate Investors Network, LLC, will get an opportunity to meet Corey Perlman, in person, at their upcoming Mega Evening Event, June 10, 2006, 8:30 am to 4:00 pm (see www.megaeveningevent.com for details)

At this Mega Evening Event in June, Corey will reveal: the basic technical information you must know, how to acquire the perfect domain name for your business, the most efficient way to get your website on the web, how to utilize eMarketing and ePR to attract traffic to your site (i.e. Hurl the URL), how to win the search engine game, and how to decipher the quality of various websites. Corey Perlman’s information gives an edge in the online realm for success in today’s ever-evolving technological society. Corey Perlman spent three years with the e-Commerce division of General Motors where he visited 37 cities throughout the country providing one-day seminars to GM dealership personnel. He’s now building a “match.com-esque” website for investors and their service providers (i.e. real estate agents, mortgage brokers, accountants, attorneys, etc.) To visit that site, go to www.investorteams.com.

“The advice given by Corey Perlman is phenomenal and makes a huge difference in the effectiveness of my websites,” said Mark Maupin, one of the founders of the National Real Estate Investors Network. “We are thrilled to have him at our event.” If you are interested in learning more about the Internet Marketing Consultant, Mr. Corey Perlman, you can visit www.assetlearning.com and www.investorteams.com.

Cost: $69 Members / $89 Non-Members/ $129 at door Location: Holiday Inn, Livonia 17123 N. Laurel Park Drive Livonia, MI 48152 Contact: National Real Estate Investors Network Mark Maupin Tel: 734-402-0180