The State of New York and the FBI have indicted six people, charging them with participating in a wide-ranging “home foreclosure rescue” scheme, in which they defrauded homeowners of the titles to their homes and caused lenders to hold millions of dollars of bad loans. The details are outlined in “Six Charged in Multimillion Dollar Foreclosure Rescue Scheme.”
What’s frustrating about this and similar stories is that it’s possible to make substantial amounts of money investing in foreclosures ethically, honestly, and without hurting anyone. How much you make depends, of course, on you. But the point is, you don’t have to defraud anyone to build wealth. And these criminals cast a shadow on the ethical investors and make it harder for them to invest.

This scam obviously took a lot of intelligence and work to put together. If these folks had taken that energy and use the legal, ethical strategies we teach, they would probably be getting ready for a wonderful Christmas with their families right now instead of facing criminal charges and possible lengthy prison terms.

Jackie