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10-12-2007, 10:00 PM
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Let Me Try........
I had a little trouble following the above post, so I will try to re-link:
Real Estate Community Networking Group - Connecting People, Creating Opportunities 
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10-13-2007, 01:28 AM
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Here is the scoop
On Wed the state of MD shut down MDH. At thursdays meeting Andrew Williams gave 3 options.
1. Receive an ATM machine and 50% of all monies generated, for every $50K invested. 2. Withdraw/opt out and get reimbersed money invested less payments received. 3. Wait for the courts decision (I assume at some time in the future after liquidation of assets) The program to pay off the mortgage in 5-7 years is no longer an option. So that is were everyone in the program stands. Also there was a hearing today at 10 am. I dont any info yet on the hearing today, but as soon as I get the info I will let everyone know.
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10-13-2007, 12:26 PM
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New Article (Dream Home Official Jailed)
It appears that one of the officers in MD is now in jail. To Bad, So Sad. Cathy Jett is doing a great job covering the story.
From today's Freelance Star Fredericksburg.com - Dream Homes official is jailed
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10-13-2007, 01:52 PM
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Kudos to Cathy Jett and the Freelance Star. The Washington Post seems to be still missing in action. It is good for investors if the assets are finally frozen. All expenditures should be approved by the court appointed receiver. The only problem is the staff was apparently tipped off and the records and data may be missing. This is major, but I think we're still just scratching the surface.
According to this link it was AHW that got jailed! scams - View Single Post - D.C. Metro Area - Has anyone heard of Metro Dream Homes? Last edited by Sage Griot : 10-13-2007 at 04:09 PM. Reason: added scam.com link
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10-13-2007, 04:57 PM
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Where's the Media?!!!
If this arrest and the actions taken by authorities are true...WHERE'S THE MEDIA? Maybe I've missed it...I do work a lot. Has anyone seen any tv news stories about this? Tens of millions of dollars, Hundreds of families, high profile seizures and a big time arrest...and they're covering stories about Mayor Fenty's hat?
My guess is that the bigger story may be the INVESTOR LIST.
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10-13-2007, 06:58 PM
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Still "doing something about it"
Quote:
Thank you so much and everyone else that is posting of what is happening. I hope investors and spectators are all learning some valuable information about how to move forward and to make lemonade from these individual lemons that will be different for each. Everyone makes errors in judgment and trust and it is the speed at which we recover that determines any success. If you were an investor and lost money and trusted AHW, don't be embarrassed and don't stop investing and better yet figure out a way to add some income to your life to pay your new bills yourself; figure out another business. And the longer you stay "angry and hurt and untrusting," the longer your recovery takes. Living well in spite of problem is the best revenge. If you are watching this event for your "friends that got took," be a mentor and a friend, with no "I told you so" attitude or don't shut them down if they have a new idea, just because of this track record. If you worked at any of these companies, look at how you can personally "bank" this knowledge of the mistakes of avarice --get your next job with real transferable skills. Try to help the people screwed even if you think you were screwed the worst. Crime doesn't pay and even "cutting corners" of ethics and integrity catches up, obviously. Helping people works. Giving when you think you can't WORKS Better & Faster to create your own solutions. I'm not holier-than-thou or condescending or preaching. I'm just still hearing everyone's anger, frustration etc. and feeling my own. This posting and the other help I've offered investigations and people is the only way at the moment that I can do something about it. Thanks and good luck. Re-FM
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10-13-2007, 08:05 PM
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Re-f Im worried that your suggestions are too early as I have seen very little feedback from the victims to indicate acceptance of the problem. I am afraid it is too late, but hopefully the "frozen assets" will be sufficient to lessen the financial harm to the participants. But if there are high net worth individuals suppressing the story, or getting in front of the line, they should be excluded.
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10-13-2007, 08:46 PM
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Quote:
Last edited by Rey19 : 10-13-2007 at 08:54 PM.
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10-14-2007, 08:33 PM
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Quote:
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10-14-2007, 08:43 PM
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There won't be much in the way of assets to distribute and on top of that it will be much too late to help anyone who can't get through a year or more. I have no doubt that the MDH principals have already spent most of the money and/or hidden it in ways that it won't be very easy to find. I would be willing to bet that less than a quarter of the investment money is ever recovered. If you remember the Savings and Loan crisis from almost thirty years ago, the local governments were very slow to respond and although most investors got their money, it took a couple of years or more. Then on top of it all, remember the little sticking point that technically, for anyone buying a new home, the investment money actually came from the seller, not the buyer of the property. So how could you legally give it back to the buyer? I find it funny that I saw a post saying that MDH is now offering a choice of options for the investors including paying back the investment funds. That will be the day!!!
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