Visions Investment Group, Prosperity Properties, Uintah Holdings, Stategic Wealth & Capital Group I fell for their scam and now I'm facing a foreclosure and possible bankruptcy American Fork Utah

Like several others who have filed complaints here at ripoff report, I too bought the real estate investment program being sold by Visions/prosperity properties. I attended one of their seminars in July 2006 in Salt Lake City. Johnathan Lowry and Troy Doller spoke and presented their investment program. Based on what they presented, I believed that this was a legitimate investment system that would allow me, a novice, to get into real estate investing, make some additional income to help my family and become more financially independent, improve my credit, and help others improve their credit. At the end of the seminar my wife and I decided that I should buy the credit optimizer program.

After completing some paper work on personal information and goals, my "investment coach" contacted me and we had 4 or 5 coaching sessions by telephone over the next month and a half. During these sessions, my coach explained their "credit optimizer" system and philosophy to me. At the time it sounded legitimate and made sense. He said they had property acquisition specialists that would find a house for me to be a credit optimizer on by getting the mortgage loan(s) on the house. Visions/Prosperity would then lease the house from me and make the mortgage/HOA/insurance/tax etc. payments for a period of 5 years with a contract to purchase the house from me at the end of the 5 years. They would also sublease the house to someone who was trying to rebuild their credit.

Under the lease agreement, they would be responsible for all maintanence and repairs on the house. They basically said that I would never need to see the home. I was just using my credit to improve my life and credit and help someone else improve theirs. In return, I would make 3% of the purchase price of the home as a down-payment on the lease-purchase contract and 1% of the monthly mortgage payments as passive monthly income. The property acquisition specialist who found the property and negotiated the sale with the sellers would also recieve 3% of the purchase price. Visions/prosperity/Uintah holdings would keep the remainder of the equity pulled out up front (house financed for 100% of appraised value) and invest it in ways that returns would be much higher than just sitting on equity. I was told that the returns on these investments would be used to help make the mortgage payments.

Some of the lies (I now know) that I was told were: Visions/prosperity manages the risk to near zero because 1) The housing market has never been negative for more than 5 years in a row. 2) They would make their payments no matter whether someone was in the house or not. 3)The only way the payments would not be made was if they went out of business (they are still in business). 4)They make money in any market situation and would always make their payments. Lies, Lies, Lies....

Visions/Prosperity contacted me in October 2006 to say they had found a house that appraised for the "right" amount and that they wanted me to be the credit optimizer on. They had a lender contact me and we went through the whole application/closing process on the house and closed at the end of November. One of the first signs of possible trouble was when Visions/prosperity kept telling me, after many calls and emails, that they would get the lease/purchase agreement to me to sign. They finally got this to me the first week of January and we signed it.

To make a long story short, everthing went ok for about 6 months until they missed making several monthly (1% of monthly payment) passive income payments. They were still making the mortgage payments so I wasn't too concerned and they said they would catch up on the other payments. During this time they asked me to be a credit optimizer on another house. I smartly declined.

In December 2007 they were 30 days late on the mortgage payments. These payments were made in January 2008 but they were late again with the January, February, and March payments which they eventually paid. In April 2008 they did not make the mortgage payments, and after many promises to do so, they have not caught up and have not made any since. Needless to say, the house is now going to foreclosure and my credit is ruined.

I demanded that Visions/prosperity give me the keys to the house and the phone number of the people that they were sub-leasing too. They told me that they would only if I released them from the lease-purchase contract. I told them no. I'm still trying to find out if someone is even in the house at this time.

If I had a nickel for every lie and unfulfilled promise that these con artists have told me, I'd be able to pay the house off.

They are also now doing the same ponzi-scheme under the name Strategic Wealth and Marketing Group.

If you are thinking of getting involved with Visions or any of their associates, hold onto your wallet and run away fast! I wish I had.

Mark

Markinutah
Payson, Utah
U.S.A.