Rick Stacy was a young up and coming business owner in 2004 and 2005. He made more money than he could ever have imagined. Graduated high school, married his sweetheart and started a family.Buying the house off Six Forks was a dream for a young man his age, barely in his 20s at that time. He thought it a bargain, paying around $400,000. He was working with an investor to do home improvements and flipping homes on the side.
He just couldn’t handle money. And now he's being sued by a lot of people who paid him up front, and for whom he never completed the work.
He would take his young wife on lavish out of town trips. Even she cautioned him against his wild spending ways. He admitted that if he had saved more he could have gotten further ahead.
So one day the bright idea took hold. To put his house in his chief investor’s name, while he, Rick, would make the monthly mortgage payments. The moment he was late, the lender would call the new owner, who would call Rick and give him hell. And Rick would say yes, I’m paying it today.
Then things started to fall apart. When I last talked with him around that time he had just been released from jail. Just months after the birth of his second child.
Rick doted on his growing family. They will always be his first responsibility.
Who knows what kind of machinations are going on now with his house. Maybe he made a sizeable down payment. Put money in a trust to pay it monthly while he straightened things out. Certainly the person(s) holding the title and the mortgage will not get back the sizeable loan at this point. Not an appraiser in North Carolina can show it at the value they’d need.
Despite the huge problems he's facing now, it's likely that he's kept his young family safe from the financial ruin. If the most he has to do is pay restitution, then he'll survive. Because for the creativity he has and the people he knows, he can start all over again.
As long as someone else handles his money.







