I read usacomplaints.com recently filed regarding Orange Crest Realty. I am the Power of Attorney for a gentleman who invested part of his retirement savings into the Orange Crest Realty Ripoff. My client had all the same experiences as the previous writer: after receiving a few interest checks on promissory notes guaranteeing 12% and 18% interest, suddenly all checks stopped. When I called the company, I was told that due to the economic downturn, Orange Crest could not keep the terms of the promissory note: i. E, penalty interest for any interest check not paid on time. When this went on for 2 or 3 months, I was asked to request the principal back. I made at least 3 calls and wrote 2 letters for my client to get the principal back. No call-backs from Ron Shade, and no answers to my letters. I then began to inquire about filing foreclosure proceedings on the deeds of trust sent with the promissory note. I also learned that Orange Crest was not the owner of the property at the time of the original promissory note. My client does not have the money to hire an attorney and file legal proceedings against Orange Crest, and his substantial investment is now just a loss. I also noted on the internet that a "Desist and Refrain Order" from the State of CA Business, Transportation, and Housing Agency, Dept. Of Corporations" was posted. It was not signed but was posted. I'd like to know if this order has formally been given to Orange Crest Realty, and whether my client has any recourse to getting his investment $ back.
0 comments