- Report: #496887
Report - Rebuttal - Arbitrate
Complaint Review: steven sears attorney cpa
steven sears attorney cpasears.com Internet United States of America
steven sears attorney cpa Client of steven sears attorney cpa are in default on mortgage debt - imminent loss of propertty to lender Internet
*Consumer Comment: More information for Consumers
*Consumer Comment: DR SEARS HAS HELPED MANY PATIENTS WITH ASTHMA AND ALLERGIES
*Consumer Comment: exposure to toxic chemicals, gross poluter,
*Consumer Comment: Steven Sears Cpa Attorney Fraud
*Consumer Comment: commercial real estate bank owned properties dallas TX recourse debt now owed to Freddie Mac
*General Comment: IRS CRIMINALLY SUMMONED STEVEN SEARS BANK RECORDS
property at Ritz Cove Monarch Beach California is in imminent risk of default and will be turned over to the lender if payments are not promptly. The 4.7 acre commercial zoned lot has been approved for construction of a Hotel and parking structure but now the entire project is at risk of cancellation.
At completion this property could have been in direct competition with the Ritz Carlton and the St. Regis hotels catering to an unscale clientelle. The proposed development would have also been similar to the laguna cliffs resort in Dana Point.
Now due to the delays and refusal to pay the construction draw account all the investors may lose their entire investment. Some of the investors placed their IRA and 401K money in this project and cannot afford to fund their share from other sources.
The Department of Real Estate Public Report discloses the risk factors but not all the investors received this document. Also, This investment may be considered a security subject to the reporting under the Securities and Exchange Act of 1933 and 1934.
Other ivestigations are pending with the Federal Home Loan Bank and the Controller of the Currency. Bank Officers and Loan Agents may also have liability as fiduciaries and intermediaries subject to Truth in Lending Laws and disclosure of APR interest rates. If this contruction loan is not immediately brought current the investors will lose everything .
This Real Estate is a prime lot already approved for development by the Coastal Commission and this opportunity may never be available to the public ever again. many retired investors will never make the profit or return they were promised.
This report was posted on Ripoff Report on 09/18/2009 09:35 AM and is a permanent record located here: http://www.ripoffreport.com/r/steven-sears-attorney-cpa/internet/steven-sears-attorney-cpa-Client-of-steven-sears-attorney-cpa-are-in-default-on-mortgage-496887. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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