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Meet Bill Rapp

NMLS ID # NMLS # 228246

William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

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🏠 $1.5M Fraud Scandal: Houston Builder Pleads Guilty 😱🏡

⚖️Missing Houston Builder Found Guilty of Major Fraud 🚔

Bill Rapp, Commercial Mortgage Broker

August 26, 2024•2 min read

⚖️Missing Houston Builder Found Guilty of Major Fraud 🚔

🏠 $1.5M Fraud Scandal: Houston Builder Pleads Guilty 😱🏡

Hold onto your blueprints, Houston, because this story is straight out of a plot twist! Meet Brett Michael Detamore, a custom home builder who took "missing in action" to a whole new level last year. Now, after a saga that sounds like something out of a true-crime podcast, Detamore has pleaded guilty to federal wire fraud charges. 🎧🔍

Let's rewind to June 2023. Detamore went missing, and not just a casual "I forgot to check my phone" kind of missing. His wife reported him MIA, and his truck was found burned to a crisp in Bear Creek Park. 🔥🚗 Cue the search parties, helicopters, and maybe even a few overzealous true-crime enthusiasts. The hunt for Detamore was on!

After days of searching, Detamore was finally found at a San Antonio bus stop, looking more like a lost tourist than a home builder, "dazed and disheveled," according to Harris County Precinct 1 Constable Alan Rosen. 🚌😵‍💫 But the real plot twist? Just when you thought the story couldn't get crazier, federal prosecutors charged him with wire fraud for swiping over $1.5 million meant for building homes. 🏡💸

So, what was Brett up to with all that cash? Well, according to civil lawsuits, he was living the dream—if your dream includes luxury resorts, expensive cars, a beach house, and VIP seats at the Super Bowl. 🏖️🏎️🏟️ Talk about "living it up!"

Now, fast forward to August 2024, and Detamore has officially pleaded guilty to the wire fraud charges. He's looking at up to 20 years behind bars and a hefty $250,000 fine. Plus, he’s agreed to cough up that $1.5 million he swindled. 💸⛓️

So, what’s next for the former homebuilder? We’ll find out on November 5 when U.S. District Judge George C. Hanks delivers the final sentence. Until then, it’s safe to say that the only blueprints Brett will be seeing are the ones for a prison cell. 🚔👷‍♂️

#HoustonDrama #TrueCrime #RealEstateScandal #WireFraud #PlotTwist #HoustonHomes

I’m an experienced Commercial Real Estate Mortgage Broker, please feel free to reach me at 281-222-0433.

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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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