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Mortgage Fraud Podcast a Success!

My first attempt at running an online talk show / live podcast / talkcast (whatever you want to call it) went pretty smooth.

I talked for 2 hours with Jerome Mayne, an ex mortgage fraud convict who is now an expert, author and speaker on fraudulent behavior. We also took some interesting live questions at the end. Jerome had a lot of good things to say about mortgage fraud and my situation. Click the links below for the audio:

Mortgage Fraud Podcast Transcript:

  • 00:00 My introduction and recap of his flipping houses story, and why I’m blogging
  • 13:44 Jerome’s story about going to jail for mortgage fraud and his current career as an author, speaker and expert on mortgage fraud
  • 31:10 My real estate investing seminar experience
  • 35:50 Where I learned about “creative” financing
  • 39:24 Jerome: a typical real estate transaction for dummies
  • 46:05 Structuring my no-money down deals and working with loan officers
  • 52:58 Stated income loans
  • 57:48 Owner occupied vs. investment property
  • 60:50 Cash back at close
  • 70:40 Did I commit mortgage fraud?
  • 71:29 Is it fraud if there are no damages to lender?
  • 74:30 Will I get prosecuted and go to jail? Should I continue blogging?
  • 77:15 I felt it was wrong but I didn’t think it was a crime
  • 78:28 Jerome: that’s not an excuse, you should go to jail
  • 79:55 How can I make it right?
  • 80:40 Jerome: turn yourself in to the FBI
  • 81:53 What is the likelyhood of getting prosecuted because of my blog?
  • 83:45 Jerome’s experience in prison: soap, bubba, white-colar, loneliness
  • 88:08 Restitution, repaying the money, bankruptcy and fraud
  • 89:48 Jerome: “at least you’re admitting to mortgage fraud
  • 90:27 Attempting to take questions
  • 91:15 Johannes of Vigilant Investor: “Do you plan to continue buying houses?”
  • 92:56 Attempting to take some more questions
  • 94:22 I’m asking Jerome: “would you flip houses and how would you do it right?”
  • 97:15 Un-muting all callers for more mortgage fraud questions
  • 97:32 Johannes of Vigilant Investor on how this is a bad time to buy, the severity of the housing bubble, loose lending, prevalent mortgage fraud
  • 104:15 Steven on community property and my wife’s liability
  • 105:43 Steven: “Direct question, Did You Commit Fraud?”
  • 106:20 Steven: “blog readers are frustrated with you because…”
  • 107:30 Daniel: “How is the negativity on the blog affecting you?”
  • 108:58 Steven: “How are you making it right?”
  • 109:20 Steven: “How much are you making on Google ads”
  • 110:04 Steven: “What is your title with savvy Chris?”
  • 110:30 Steven: “Why haven’t you thrown-in the towel and filed bankruptcy yet?”
  • 112:07 Steven “What’s your favorite entree at The Macoroni Grill”
  • 113:35 Phillip from Houston ask Johannes about dollar value and housing bubble
  • 115:03 Phillip: “What’s in the contract with PrLinkBiz”
  • 115:56 Back to Jerome for a few last words about the mortgage fraud podcast
  • 117:53 The end of the mortgage fraud podcast

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