Troubled times hit Paso lender

Feb 25, 2008 Full story: SanLuisObispo.com 83

“In spite of the historically low interest rates on conventional take-out loans, fewer people are qualifying for the limited funds banks have to lend”

In another sign of how the mortgage lender crisis has hit San Luis Obispo County, Estate Financial Inc. is having money problems, leaving developers unable to finish projects and investors wondering when they'll get their money back.

Karen Guth, president of the real estate lending company in Paso Robles, said Estate Financial's troubles are due to 'the lack of liquidity' caused by the significant drop in qualified buyers for the company's real estate investments.

'We're trying to finish our projects, but there are not a lot of people buying houses these days, and so our loans are not selling off,' Guth said. 'Our problem is not unique. It's a cycle in the real estate market and it's a cycle in a credit market, a perfect storm of bad news.' Read more

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DOTS

Pismo Beach, CA

#83 Feb 22, 2009
Judy wrote:
<quoted text>
There's a new website that has been developed to get out as much information as possible about Point Center - go to www.pointcenterinvestigation.com to post.
They all used the same method of fraud and shared investors with each other and concealed monies off shore mostly in Cayman Is. Holding Companies along with Hertel, Fowler who are now happy to be forced into Chapter 7 that way they can show all the money is gone, and the secrecy of UBS Accounts and Holding companies in Cayman Is. are flush with cash untouchable by US or Courts the connecting mob money man is Robert John Samuel Fowler and his New firm Meridian Realty Consultants formerly Atascadero ventures, LLC a Hertel Fowler front, follow the money and do it soon..
Kim

United States

#84 Mar 26, 2009
Who are the owners of Doya Partners II,LLC. Two of the homes just went into preforeclosue and have lots of equity. I would like to get those sold for these investors.
CRTM

Templeton, CA

#85 Mar 28, 2009
It appears some of the evil doings of Hertel and Harkey had to do with Diane Harkey had been having affairs with several of the firms borrowers as well once her husband loaned millions, she would find time alone with them and get some of it back on her back ! one way to finance her zeal to became political top dog, but she has tarnished her self and that will come out, Robert Fowler of Hertel co. says Hertel used to have personal time with her once his loans got funded.

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