MAPS or AMPS – The Questions You Need To Ask


My issue with MAPS or  AMPS, (whatever the flavor of the day they call it)  is essentially anything you say to the lender that’s not true is fraud,  and it’s even fraud by omission, if you intentionally omit a material fact. 

These clowns who sell mortgage assignment courses go way over the top. You are now seeing copy cat courses pop up.

I expect to see criminal convictions of these information marketers based on how they teach investors how to omit material facts to the bank !

HUD and the FBI are now aware of MAPS/AMPS and the fact that they are  teaching their students to commit fraud.

HERE IS THE TRUTHOnly the lender can approve an assignment of the mortgage. (includes payments) The CYA letter MAPS  uses is going to put you up the creek.  I cant wait to see their CYA challenged in court.  It used to subvert responsibility and conspires with the Seller to conceal.

 Stupid “Gurus..”  

It’s a sad day  when you  speak your mind to provide  a counter point argument and protect the pubic that one is sued!   I am 100% right from a legal stand point!

Ask yourself , Why is Phil trying to hide?   What a childish behavoir! You would think MAPS / AMPS  would stand on its own if it was legit.  His association with JT FOXX  should say enough once you get to his “bootcamp” !

 

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6 thoughts on “MAPS or AMPS – The Questions You Need To Ask

  1. Fred A. Cerra

    Hi Duncan,

    Your statements are 100% dead on. If and when Phill Grove & Co. are brought to court (And I believe they will) for peddling
    this Fraudulent program, it will be very interesting to see and hear what they have for a defense. (Sorry O.J. theatrics won’t work here!). I feel very sorry for the innocent purchasers of this scheme that may very well be dragged into the muck. (They say ignorance of the law is NO excuse).
    Duncan, keep up the good work in exposing these so called “Gurus” that will try to market anything for the fast & easy buck on the internet. I often wonder how they would market products in person where they are eyeball to eyeball with a customer.
    If you need help in Arizona, do not hesitate to contact me. I will be very happy to help you champion this cause.

    Reply
  2. Hans Krumbholz

    Hello Duncan, I heard about this and sat in on a WEBINAR and when I asked how many members they had enrolled,I received no reply, also I found that it was way to easy and sounds to good to be true. The fact that they say YOU do not have to get the sellers BANK involved in any of the transactions, this made me a little UNEASY…GREAT POST I’m glad I DID NOT fall for this ….. 🙂

    Reply
  3. Lee Bukervich

    I understand and respect the point of view of the writer, but there comes a time when you have to look at the traditional means of doing business and just admit it’s not working. There comes a time when you must try a different solution because the problem in the housing industry is just getting worse.

    I am not a member of AMPS but I’ve researched it, it seems logical, and I fail to see how it is a ‘scam’. The same banks that got us into this mess by loaning to everyone are the same banks keeping us in this mess by not loaning to anyone.

    AMPS appears to be a reasonable and moral solution to the problems facing the industry. Bank’s stringent lending policies are making it difficult for distressed homeowners who cannot find a job and cannot afford their mortgage anymore to sell their houses, leading to more foreclosures. More foreclosures are dropping the housing prices, thus creating more distressed homeowners. Continuing this same process and hoping for a different outcome is insanity.

    I fail to find any immoral behavior with the AMPS product or investors who utilize it. In fact, their courage to act and their ingenious ways of thinking outside the box seem to be the only option out there for distressed homeowners looking to sell their house and avoid foreclosure.

    I’ve found only a handful of people who are opposed to this strategy. Quite frankly Duncan, as an Internet Marketer peddling a product, I find your leeching on to the AMPS publicity by bashing it so you can sell your product more unethical than what you accuse Phill Grove of doing. I guess you’re okay with people losing their homes as long as you can sell a book about wholesaling.

    In the end, both the mortgage industry and the real estate industry have got to think outside the box to correct the real estate problem. The government can’t fix it. Banks aren’t going to fix it. Conventional real estate transactions won’t fix it. Doing the same thing and waiting for the market to correct can’t fix the problem.

    Instead of two tired, traditional, and closed minded industries desperately clinging on to a process that is no longer effective, and bashing every new idea that can solve problems so they can try to keep their stronghold on a dying industry, let’s try a new approach. Let’s have real estate investors, Realtors, and mortgage brokers work together to create a better product, like AMPS, that can help return this market to normalcy.

    Once the market improves, then there is no need for AMPS and traditional real estate methods will work again.

    Thanks!

    Reply
    1. Duncan Wierman Post author

      Lee

      No matter how good an idea you think it is, or believe it’s the solution to the problem of people not being able to buy houses because of the banks, ..
      does not mean its LEGAL.

      Since I am being sued by Grove, I will be addressing this issue in a court of law. I am going to ask in my discovery for Groves entire business practices, customers, success rates, etc. His entire business now will become part of the public record. I am going to have an expert witness that will testify to the legalities of what MAPS/AMPS is doing wrong. Lets see who is right. I am putting my money where my mouth is. I know MANY unhappy customers of MAPS, and they say it doesn’t work and their attorney says NO.

      THE LAW IS THE LAW ..

      Reply
  4. Sue

    So…how’d it go for you, Duncan? The fact is that if a mortgage is STILL HELD IN THE NAME OF THE MORTAGOR, it hasn’t been assigned, and there is no need to involve the lender.

    Due on sale clauses allow the lender to accelerate the mortgage, if they choose. It appears that they would prefer to collect the payments, rather than own the house. Isn’t that interesting?

    Reply
    1. Duncan Wierman Post author

      Actually you still have it wrong. I have had loans called due twice. Your argument does not hold water. More banks are calling loans due as they have a higher responsibility to investors in their mortgages then allowing the risk of un-creditworthy people assume the mortgage.

      It went very well for me. Phil gave up on his lawsuit against me because he could not disprove me or the law.

      Reply

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