INSIDE EFI: Under The Microscope

May 4, 2008

Part 3: The good times are gone

(Editors’ note: This is the third and final article in a series examining the high-rolling, multi-million-dollar Paso Robles financial lender, EFI, and its current problems.)

By DANIEL BLACKBURN

One of the down sides of divorce is its very public nature, proceedings often revealing things about people they’d rather keep secret.

Had it not been for the bitter 2004 divorce of Guth and Charles Applebaum, then co-owners of Paso Robles’ Estate Financial Inc. (EFI) and Republic Properties, much regarding their businesses probably never would have found its way into the public domain. And if legions of investors were not today concerned about money they’ve invested with EFI, details of the pair’s divorce would have interested few.

But now the once high-flying North County hard money lending firm — bending under pressure from simultaneous federal, state and local investigations — is more exposed today than ever before. Complaints have been raised about the firm’s practices and investors have voiced concerns about conflicts of interest, mismanagement, and improper use of EFI’s mortgage fund. Investors have gathered by the hundreds in a series of meetings all over San Luis Obispo County seeking ways to recover monies that had been entrusted to EFI. Last week, the state Department of Corporations lifted EFI’s permit to sell off any of its real estate investments while the agency probes dozens of formal complaints.

EFI is in the business of making construction loans, charging high interest and – when times are good – paying high dividends to investors. When the real estate market began souring, Guth told investors that EFI’s slide was temporary, that it was just a result of the market downturn. But when investors had more questions than answers, the EFI story began to unravel.

Much of EFI’s present quagmire can be traced to Guth’s and Applebaum’s divorce, and to the couple’s increasingly hostile court confrontations over division of their personal assets… battles which continue even today.

Court documents spanning four years show that Applebaum’s departure had several immediate effects: Guth cranked up the sales and marketing machine, and EFI stopped paying much attention to construction projects in progress. In the years immediately following Applebaum’s departure, Guth and her new partner, son Joshua Yaguda, began concentrating almost exclusively on attracting new investors and making new loans.

After all, that was how they got paid: for each dollar that went out in a loan to a building contractor, EFI took one to three percent right off the top. There was more motivation to loan, less to maintain any semblance of quality control of any project.

The increased effort bore fruit. In a little more than 12 months after Applebaum left the firm, Guth and Yaguda had increased EFI’s mortgage portfolio from $95 million to $135 million.

Guth was hitting her stride in a very fertile real estate marketplace. “Fundamentally, I am a saleswoman,” she said in court documents describing the separate professional functions of the feuding couple.

In those 1994 documents, Guth explained why she thought additional business was accruing to EFI after Applebaum’s departure:

“We maintain excellent lender records and notes to ensure investors get whatever special attention they require,” she avowed. “Overwhelmingly, the reason new investors seek us out is because they have been told that when you call EFI you can always talk to Karen or Josh. Secondarily, EFI’s excellent reputation for protecting their investors, providing a continuous stream of loans for them to invest in, and the level of explanation, disclosure and attention they receive from us.”

Applebaum, on the other hand, said he didn’t think EFI’s expanding portfolio was attributable to Guth’s “expertise and personal effort,” but to the simple fact that “demand for capital in the construction market and the ability to pay ten percent when banks are paying one percent.”

And the big numbers Guth and Yaguda were putting up were misleading, he testified: “As of Nov. 28, 2007, of some approximate $172,687,619.32 in construction loans (assets) only $36,160,142.99 was invested in current, performing funds… (thus) “it is clear that only 21 percent of the entire mortgage fund portfolio is current and performing.”

Early in the property division fight, Applebaum sought financial information on one of the couple’s companies, Republic Properties. When EFI would make a bad loan, Guth would transfer it into Republic Properties, he told the court, because “she wishes to use all the cash flow from these investments… to pay interest into EFI.”

Information he sought, including the status of construction projects, was not provided, he reported.

Because Guth was at the time claiming that monthly debt service was costing EFI $107,106, Applebaum said he believed the bad debt portfolio carried by Republic Properties exceeded $12 million three years ago.

In what may turn out to be a fateful commentary, Applebaum hypothesized on Guth’s use of Republic Properties: “The real reason that EFI has had to transfer ‘bad loans’ to Republic for workout is that (Guth) decided to advance certain funds which were invested by investors in one project, to the builder for use on another project. This action is clearly inappropriate. I do not trust (Guth’s) judgment in this or other ways .”

Applebaum described one circumstance involving an office building in Paso Robles, referred to by Applebaum as the “9th Street Project,” which became a particular focus of attention during the property division hearings.

In what she termed an “update” of Republic after her separation from Applebaum, Guth sought $250,000 to finish the 9th Street project, which now serves as the company’s home office.

“I am certain,” he alleged in sworn testimony, “that (Guth) has unilaterally removed sums from the investment account without prior notice or consent and spent them in various ways that she has determined are ‘joint’ expenses.'” He also claimed that Guth “has certainly misappropriated the nearly one half million dollars we placed in the (9th Street project) investment account in October 2003.”

He claimed that the $900,000 construction fund for the 9th Street Project was spent by Guth “prior to putting a shovel in the ground.”

The travails articulated by Applebaum, ironically, echo many of EFI’s investors. Some have expressed concern that Guth has moved investment funds around from project to project in what might be a violation of contractual agreements. Still others hint at fraud.

The good days may be gone for EFI. Many of Guth’s personal assets have been liquidated to satisfy liens, judgments and other payouts. On last Valentine’s Day, the county sheriff delivered an order for Guth to sell her Paso Robles ranch, valued at between $2.5 million and $3 million, to pay the remaining debt to Applebaum and two banks. Sources have told UncoveredSLO.com that just last week Guth was busily attempting to raise capital or trade property to cover the Applebaum obligation, hoping to avoid selling the ranch.

And last but not least, her personal income is evaporating. Guth reported a $2.8 million taxable income in 2005. One year later, that had shrunk to only $1.4 million.

Tags:, Applebaum, EFI, Estate Financial, fraud, Guth, paso robles


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Stefan

By: Anonymous on 5/16/08

For those of you who are worried about attorney's costs and receiver costs – who do you think is paying for the new PR firm?????? We are!

By: Anonymous on 5/15/08

> Subject: RE: Mortgage Fund Meeting and etc's

> Date: Thu, 15 May 2008 10:35:21 -0700

> From: "Karen"

> To: "Lance Mason" ,

>

> Lance: EFI is working on putting an advisory committee together for the

> Mortgage Fund activities. I will be getting a letter out shortly.

> Karen

>

By: Anonymous on 5/15/08

Joe – Ron cooper might give you help with this call hiim 818-225-1528 sorry i didn't ask frist Ron.

By: Anonymous on 5/15/08

Joe – be the test pilot of the proposed theory allowing investors to help oversee certain project with Karen. Go into her office on Friday. Call up any outside unbiased builder and ask what it is you need to see from Karen. If she ducks and dodges then abandon your theory and move to the next step. Do this ASAP. Times a wasting.

By: Anonymous on 5/15/08

Mr. Fredrickson: Please respond to my letter so we can all be prepared for the meeting.


Also, I assume you know that Karen will have her own handpicked "advisory committee" to be presented at your meeting to show the fund investors that she is prepared to have someone (hand picked by her) to look over her shoulder


Please respond.

By: Anonymous on 5/15/08

Does anyone know the name of the PR firm that Karen hired?

By: Anonymous on 5/15/08

To Anonymous re your reply to Dear Open Letter


Well said. Wake up investors. We have options. Do you really think that Karen is the only person on the planet who can manage your portfolio? Please! We have options! One that immediately comes to mind is to remove Karen Guth with an accountable manager who is not afraid to foreclose on borrowers because they happen to be yourself, under the guise of an LLC. Right now Karen is accountable to noone but herself. If she doesn't like your questions, she simply doesn't reply. Who you going to call to complain about the fact that you can't get information that you're entitled to? Money spent on a PR firm is ridiculous. Why should we be paying for someone to put a pretty face on this disaster? How about spending the money where it will do some good, mainly, on a competent team to handle all facets of that business. If Karen cared about the investors, which she clearly does not, she would give us 30 days notice before resigning and retiring to the olive ranch to rake olives.

By: Anonymous on 5/15/08

If telling the truth meant jail and your freedom required you to lie and delay delay delay –


what would you do?


Stefan

By: Anonymous on 5/15/08

Came home for lunch to find a letter from EFI… all I have to say is that communication is a beautiful thing… when it happens. News tab on EFI website doesn't work and I couldn't log into the account info website either.


EFI has found a new avenue to spend our money… a PR firm to counter all the bad press here and elsewhere. How about putting the money in investors hands… that would stop the bad PR.

By: Anonymous on 5/15/08

Dear Open Letter says:


Dear Open Letter,

Please get used to the words 'management team' or 'receiver.' Generally a temporary receiver is placed first who's appointed by the courts. They then report back to the courts on their findings. Next they are appointed a permanent receiver and is now a part of a management team. This is very typical.


First, to address a letter I received about having a few investors check in on certain projects with Karen weekly is absurd. Karen wouldn't and hasn't as of yet, let us see the finances and details of any of these projects. Why on earth do you think she will now? That's out of the question. She will only tell you what she wants you to know and will not give out that type of information. We keep getting lip service from her. Go ahead and believe her lip service but without you testing it, it's just a personal belief. Go in into EFI and ask to see the finances/checks/books. Then you will know if you should believe her.


We are left with no other choice but to look at court appointed receivers. This takes a few individual investors who hire a lawyer to take this to a Federal court (preferably) and get permission granted for a receiver to be placed. If you don't believe this, please don't call a lawyer but call a receiver. They will tell you how THEY get placed. This is most common. Either they get placed by the state agencies, federal agencies, or individuals as in the attempts of Cedar Mortgage Fund case going on right now in Monterey. If you'd like to wait around for one of the agencies to do this work, then it will take SO VERY LONG that by the time the agencies get around to it the money will be gone.


Please wake up! I spoke to a Federal Bankruptcy Trustee recently that said we are fools if we wait. The mere fact that Karen loaned money out to builders, took her fees up front and then didn't have the money to pay them as they requested it in phases is enough to show her incompetency. Also her lack of exposing books and her recent DOC violation. And that's just a small fraction of the alleged fraud out there. Why are you stil having faith in Karen and Josh is beyond belief to me. Or are you just used to the abuse?


AND TO ROGER FREDRICKSON – Please make sure you have these type of people mentioned above at the meeting to explain what they do. You are not seasoned at this type of situation. To try and answer these highly sophisticated questions will take the knowledge and experience of SEASONED receivers and management teams. We are counting on you for their knowledge at this meeting. Most receivers come with an attorney that know how to get them placed. Our future is in your hands. Please be careful with it!


Stefan

y: Anonymous on 5/15/08

I wonder if Karen is out looking for her own island like the guys that ran the Babtist foundation on American Greed.

By: Anonymous on 5/15/08

Please don't cross post. If you post the same comment in multiple threads to get your message across it actually diminishes the effectiveness. Readers and responders can't be sure they are following the posts because they appear in more than one thread. It is like having three conversations at the same time.

By: Anonymous on 5/15/08

to Open Letter


Great questions, I share them with you.


Only a Receiver has the ability to take over, follow the paper trail, stop the shredding of documents, find the money, and stop the siphoning off of funds!


Why does a Receiver have this ability? Because they are court appointed and therefore have the authority of the court, Karen and Josh must yield to the receiver.


A receiver can be placed in control of the entire EF empire and eliminate the tricky maneuvering necessary for a take over between the Fund, individual investors, and the complex web of LLC's that Karen has set up… and receivership would eliminate the Poison Pill.


I plan on going to the meeting, but I am not sold on the idea of a membership takeover, besides I think that the wheels of justice are in motion and it will be a foregone conclusion… it is all heading to receivership in short order any way.


Stefan

By: Anonymous on 5/15/08

To Open Letter –

I'm sure there will be many questions by many investors and he wouldn't be able to answer them all here. Let's go hear what our options are. Mr. F would not be putting this meeting together if he didn't have advice on how we should proceed, where we would find a new manager,how we would hire a new manager,and the steps we must take. Karen Guth is not the only manager of a hard money lending corporation. There are educated people who do this for a living. We would not go into this blind – as we are now. We would know what the costs are and even be able to see the books if we want. It's our right. Let's go to the meeting and hear him out. Let's get some facts. There is too much stuff to sort through on these blogs. Who knows what's true or not? I want some legal advice and to know what we can do to get a new manager in there to see if there is any money or assets of value left.


May 15th, 2008 at 7:14 AM


May 15th, 2008 at 7:16 AM

By: Anonymous on 5/15/08

Dear Mr. Fredrickson:


I look forward to the upcoming investor meeting. As one of the fund investors, I would like to following questions answered before the meeting. Being invited to a "blind meeting" is, in my mind, going to be counter productive. We will have multiple opinions about what to do, very little guidance from professionals (other than yourself) an will leave without accomplishing anything. However with these questions already answered we can move more cohesively. So please don't tell us we'll find these answers at the meeting. I for one, want these answers now.


1. If we replace Karen and Joshua, who is going to take their place?


2. I hope you have someone, or a group of people, ready to go into Estate right after the meeting so Karen and Joshua don't have the opportunity to do more harm than they have already done.


2. Who is going to enforce the vote to remove them? There is no court order behind what we hope to accomplish, so how do you plan on handling this?


3. Who is going to protect/stop Karen and Joshua from rapping the fractionalized interest mortgage holders?


4. Is the new manager gong to be bonded and insured? They are not going to be responsible to any court, so we should have some insurance to back up their integrity or we could find ourselves in the same boat we are in now.


5. How is the new management going to deal with people who have funds in both the Mortgage Fund and are fractionalized interest holder? Or are the fractionalized mortgage holders going to be the stepchildren of this exercise?


Stefan

By: Anonymous on 5/14/08

A similar case in Monterey – Cedar Funding. Paste this link into your address bar and see what the lawyers are doing about it. They are hoping to have a receiver placed soon.


http://www.montereycountyweekly.com/archives/2008

By: Anonymous on 5/14/08

Case Numbers: KC052068, KC052088, KC052013,KC05201.


Plaintiffs: Soils Retention Systems, Inc and Shelton Construction Company.


Defendants: San Dimas 18, LLC, Estate Financial Mortgage Fund, LLC, Estate Financial, Inc.


Anyone want copies of Request for Default email me (ron@cooperdevelopment.com) and I email them to you.

By: Anonymous on 5/14/08

Ron, post those case numbers. Once those are public and people see tangible court action, even the Tribune will no longer be able to ignore that EF is not only DEATH WATCH, but that they are in fact ROOM TEMPERATURE.

By: Anonymous on 5/14/08

What are the case numbers?

By: Anonymous on 5/14/08

Can You Verify: YES, I know of two lawsuits filed in the Superior Court – Pomona Division – where BOTH Estate Financial Inc. and Estate Financial Mortgage Fund have defaulted on lawsuits and requests for default judgments have been filed with the court.


Theses request will be granted and the Manager of the Mortgage Fund will have allowed two judgments to exit against the fund – which affects all of the fund investors. Great Management skills. The next question is why is she allowing these lawsuits t go to default. No money to defend them? Liquidating to run away? Anybody know what she is up to.

By: Anonymous on 5/14/08

It has come to my attention that Karen has not responded to several law suits that have been filed againt her in recent weeks.

Does this mean she is getting ready to run. It is not like her to just give up and loose by default.

By: Anonymous on 5/13/08

insider says:


Thank you for your comment. Anyone still beleive Karen is best suitable to (miss)manage the fund after all these revelations, deserve to loose heir investments. I could go into substantial details about EFI operation and resulting consequences, but this is a public site and I don't think the proper venue. EFI's problem clearly was a total disregard of their own rules and contractual obligations toward borrowers. I am apalled by so many people still beleiving Karen is suitable to handle the funds.

OH WELL!!!!


Stefan

By: Anonymous on 5/13/08

This was found on another uncoveredslo article's blog yesterday. It's worth sharing here.


Marylin says:


Nice to see someone is doing something, FYI Cindy got her monies and moved to Nevada, to enjoy her retirement. She made a deal and is going to stay out of the loop. She warned many investors apparently none listened, until now. My spouse has been investigating several SLO Developers and Investment Scams for the past two years for an Insurance Company who is concerned one of their clients has been running a con game. One matter that has gotten the ATTENTION of the IRS is a local developer named Ronald W. Hertel of RW Hertel & Sons in a Florida Federal Case # 2007-CV-61031-JIC where the developer tried to launder ill gotten monies from SLO to the tune of about $ 14,975,000.00 apparently a LLC called COOKHAM HOLDINGS, LLC and ATASCADERO VENTURES,LLC all connected to a Winery called the 5 Mile Bridge dba VERDOT GROUP, LLC are all connected to several scam operations with Rossi, Hertel, Fowler, Guth, Hurst, Point Center Financial, Inc. The Dolphin Group, DOYA Partners, Troxler Ventures Partners, Inc. Woodlands Ventures, LLC Central Coast Development Co., Los Robles Ventures, LLC SLO-HAAS, LLC and them some. He tells me a case has been going on for some time trying to determine Insurance Fraud, and Defrauding investors. I asked him could he talk to any of you and he can't since he works for a Major Insurance Carrier who is concerned they may be liable if a suit ever comes down they are in the damage control mode. But he warned some of those he has interviewed to go to the authorities with their information. Good Luck. FYI Cindy was an insider who did provide in valuable information to the Federal Authorities

By: Anonymous on 5/13/08

Regarding your letter:


Please call or email me. I want to talk to you about a receiver. (818) 225-1528

ron@cooperdevelopmet.com

By: Anonymous on 5/13/08

I was forwarded Lance's letter this afternoon. Here are my thoughts addressing your concern about a receiver.


A professional won't quit, generally doesn't charge as much as EFI does as proposed in the

Offering Circular, will agressively recover lost gains if fraudulent acts have occurred and will

answer to the investors. Nor will they ever be charged of violations as the DOC has done to

Karen. They will also supply the investors with a breakdown list of assets with their worth and

the current price per share. No investor to my knowledge has seen this from Karen Guth. Please

don't assume a receiver is more expensive than Karen. Karen won't even open her books and share. A receiver is generally assumed to be more expensive because many times they have to break the bad news.

It's ashame.


Karen's replay

By: Anonymous on 5/13/08

I think people don't realize how devesating it was to the investors that Estate never fully funded the loans the made making funds not available to builders on demand. This often resulting in projects grinding to a halt with subs refusing or just being passive agressive about continueing, suppliers freezing accounts and length of time in construction increasing with any money comming in just being forwarded back to the investors as interest payments. Many of these projects would have been completed and sold during the good times had Estate managed this buisness properly. I had to Laugh Out Loud this morning when I read Karens comment about the fund holders meeting and see couldn't imagine anyone who would be better suited to manage the fund than herself. I have a 3 1/2 year old grandson that could do better. He's not all that bright but is expenses are reasonable. I've said from day one this is the best and cheapest way out. Get a managment team in representing the best interest of the fund who can be voted in with a 51% shareholder agreament. Contact the first trust deed holders on a property by property bases and get Estate out of the picture by a takeover. No reciever just take it!!!!!!!!! Once you have all the property sue them for everything they have for committing fraud. Once you have thier property put them in jail. This is the squence that seems to work best.


Stefan

By: Anonymous on 5/13/08

After hearing all I've heard, it appears Karen and Joshua will be in jail. Although Karen is scrambling to save herself, it's very apparent now she has fraudulantly breached her duties. Regardless, a receiver will be placed, if not now, later. And during the interm, Karen is using the Fund's money (your money and a lot of it) to fight legal battles. Once a reciever is placed, that waste of money will stop and she'll have to defend her own fraud with HER OWN MONEY! Your capital is being tossed away to fight Karen's battles due to her illegal acts. These battles arrived from misrepresentation to the builders (promised money Karen didn't have to loan leaving projects incomplete) to investors who haven't recieved promised money (ex: FTD's not being paid back after sale). These are rightful cases. I feel keeping Karen in her position would be a disaster. Do you want your money to fund fighting her battles? Learn more about your options!

By: Anonymous on 5/13/08

Thank you for all of your postings attempting to clarify this situation. Unfortunately, much of this seems moot, and whether Karen and her son go to jail doesn't solve our problem. Please help me to understand something. If the investors in the individual pieces of property program hold title to the property in which they have invested, then at least if the project goes belly-up they get the property and together can determine a course of action. What do we own? Aren't we little more than stockholders in a brankrupt fund? I am currently living in another state, but I would appreciate being kept up to speed as to what is transpiring with our investments. My email adress is: mjancic@comcast.net. Please add me to your interested parties email list.

By: Anonymous on 5/13/08

A good point though. We should be verifying everything.

By: Anonymous on 5/13/08

Maybe there was a typo in the Telegram Tribune the day I read it. I didn't write it. Just copied from the newspaper.

By: Anonymous on 5/13/08

When you go to the legal notices in the Tribune, the APN: 026-281-055/056 is NOT listed.

By: Anonymous on 5/13/08

The one thing I forgot to mention in regards to the former posting below— I did not know this unit sold until a few weeks ago(sold in Sept.2007) when a title report was ran– I wonder when I would have found out if ever, that part of our investment should have been returned to us!


Not sure if this is fraud. In regards to Loan 519-05- this consists of 4 condo's on one property- one of the condo's was sold back in Sept. 2007— instead of paying off all the investors, she chose to pay down the mortgage fund with the proceeds instead of dividing this evenly among the investors, the percentage that was due them. Two other units are rented out— no rental income has been seen.


By: Anonymous on 5/13/08

Carole,

Here are some links

http://buyit.sanluisobispo.com/findit/legal_and_f… and http://buyit.sanluisobispo.com/findit/legal_and_f

By: Anonymous on 5/13/08

Carole,

The information was from the Telegram Tribune.

"Interesting Legals in the Telegram Tribune. Notice of Trustees Sale on Loan B352-05 – B366-05 Signature Homes and Al D'Amico in the amount of $7,584,421.10 APN: 026-281-055/056 and Three Bells,B193-06 Karen Guth- Al D'Amico in the amount of $6,453,285.89 APN: 040-111-024."


Stefan

By: Anonymous on 5/12/08

What is happening with damico trial? Has anyone been to the court to watch?

By: Anonymous on 5/12/08

this was posted on Article

INSIDE ESTATE (part 2)


This person could be most helpfull


past employee says:


you want to know where your money is, well karen funded projects based on completion value to make interest payments, also follow the LLC's, most of them she owns, she has 9 projects funded with mortgage fund money that are bare land, funded as completion value, and funds used to make interest payments to investors in the fund, that is until all the loans were completely funded, and money ran out to make interest payments. EFI was most famous for taking investors money, fully funding construction loans, and using the money to make interest payments, 75% of the time when the contractor was ready to build all the money was gone


By: Anonymous on 5/12/08

Anon

Templeton Hills is Feytko

Templeton HIlls II is Signature Homes LLC, Al D'Amico

(loans) B352-05 and B366-05 are tied to APN 040-289-018.

Can you give the source that tied APN 026-281-055/056 to the above loans?

By: Anonymous on 5/12/08

Not sure if this is fraud. In regards to Loan 519-05- this consists of 4 condo's on one property- one of the condo's was sold back in Sept. 2007— instead of paying off all the investors, she chose to pay down the mortgage fund with the proceeds instead of dividing this evenly among the investors, the percentage that was due them. Two other units are rented out— no rental income has been seen.

By: Anonymous on 5/12/08

insider or others:

we need proveable fraud to get efi. if anyone has written, not verbal, fraud documents let us all know.

By: Anonymous on 5/12/08

to so what are they up to now


Word is Karen has a large credit line with Heritage Oaks she can't make good on. She is probably being required to sign over any personal assets as additional security for the bank. Unfourtunately she probably considers many of the deals she's made with the funds money her assets./

By: Anonymous on 5/12/08

Republic Properties,LLC, Cayucos Pierpoint, LLC,Carole Deane, LLC Herrontown, LLC Almond Terrace, LLC, Templeton Products, LLC, Central Coast Trust Account Servicing, Inc. to name a few

By: Anonymous on 5/12/08

24th Street Towne Homes, LLC, Hinds Avenue Partners, LLC, Three Bells, LLC,EFI Property Management, LLC, First Press, Second Press And Third Press, LLC,Buena Vista Place, LLC, Viana Devlopment, LLC, Doya Partners,LLC, Doya Partners II,LLC ,Estate Financial Mortgage Fund, LLC Are all owned by Karen Guth with the California Business Portal for the Secretary of State. Plus I am sure a lot more.

Your investments may be under any one of these.


Stefan

By: Anonymous on 5/12/08

There are more names than just Estate Financial. They've abreviated Estate Financial in many ways. The Fund has other abreviations. Here are just some I have found.


ESTATE FINL MTG FUND LLC

ESTATE FINL INC

ESTATE FINL

ESTATE FIL INC

ESTATE FINLI NC

ESTATE FGINL INC

ESTATE FINL MTG FUND LTD

ESTATE FINL MTG FUND LTD LIABILITY INC

ESTATE FINL OF PASO ROBLE

ESTATE FINL LLC

EF PARTNERS


Of course, now that 'they' have seen this, they may even furtther change the spellings.


By: Anonymous on 5/12/08

Correction: Make that

122 filings (not 12).

By: Anonymous on 5/12/08

Check out the Slo county recorder website. Go to "search official records" and type in

estate finl inc

where is asks for Grantor/Grantee

this is how Karen/Julie have filed her documents – intentionally, I'm sure, to make it harder to find records (if you type in Estate Financial Inc, NO RECORDS ARE FOUND).

There have been 12 filings by Karen since 4/1/08. Many of the filings are Assignments of Deed of Trust to Heritage Oaks Bank. What is that about? Is she pulling out all her money as she gets ready to skip?

By: Anonymous on 5/12/08

Carole

Templeton Hills is actually under Andy Fetyko, one of Karen's borrowers.

By: Anonymous on 5/12/08

Carole

Both of the APN No.s are for loans made through Estate Financial with Al' D'amico as borrower. You may have investments on one and not the other. The common tie is Karn Guth-Al D'Amico. I included both just to give information to all of you. Remember when you are searching for info Karen Guth has about 30 LLC's and they may use anyone of them on your projects. Templeton Hills is one of those LLC's. You can go to California Busines Portal and search for the different LLC's. Good luck hunting.

By: Anonymous on 5/12/08

Why isn't Rodewald being looked into? How deep is he and his wife into this?

By: Anonymous on 5/11/08

May Karen live her golden years reliving all the crap she put good 'souls' through in the worst prison possible. And she thinks she is so smart!


Karen – may your heart grow 200x it's size and quickly. Your redemption will make you whole. Hasn't the greed tormented you enough yet? Heck, whistle blow and turn your son in as the perpetrator. I hear people like you eat your young anyway!