Russ Whitney - United Mortgage Corporation, Douglas Realty, Gulfstream Development Major Florida Real Estate Scam Cape Coral Florida

If you've also been hurt by these companies you can file your complaint with the Atty General Of FL FREE - they're filing a NEW lawsuit against all these companies related to the investment training and turn-key new construction houses.
Here are the step by step instructions:

Go to www.myfloridalegal.com
Click on to Consumer Protection-(Left Side Column)
Click on Economic Crimes
Click on Contact Economic Crimes

The Complaint Form will appear. Fill in all sections.

Under Section 2, for Name/Subject list: Russ Whitney/Gulfstream Development/United Mortgage etc.

For Subject/Category dropdown list click on: False or Deceptive Trade Practices.

My wife and I fell prey to the same program. When we signed up we were told we should be out of pocket about $6,000.00, which was doable. All we had to do was pay the interest on the construction loan and sell the house when it was done and make $30,000.00 to $50,000.00 profit.

By the time the house was completed, we started getting pressured to take out a mortgage to pay off the construction loan. They put us in touch with United Mortgage Co. and after trying to secure other financing, we finally caved in and took out a mortgage from them. They went out and got an incredibly inflated appraisal and sold our mortgage to another bank before we even made the first payment.

Since Douglas Realty Group didn't seem to be able to find o buyer, we listed with another realtor. After a year of chasing the price down we finally sold it short and the bank forgave the difference. Now we find out that FHA regards a short sale the same as a foreclosure so we can't refinance our own home to take advantage of lower interest rates. Also, we're going to have to pay income tax on the amount the bank forgave. Through all this I kept contacting Russ Whitney for advice and got nothing.

I have almost completely wiped out my IRA and now am going to have to come up with $ for income tax! Incredible! To the defense of the program, one person in one of our classes did sell; her house in Lehigh Acres for a nice profit before the market turned.
Dave Nelson
Indiana