Complaint Review: Great Lakes Capital Financial Service Steven Seigle Cash Now Of Garden City - Farmington Hills Michigan

I have been in commercial lending since 1986, initially as owner of an equipment leasing company, adding the service of commercial real estate financing, and evoloving into mergers and acquisition financing. Most recently, large transaction and project financing have been an added area of concentration. In my 25 years of financing, it was not possible to make everybody happy. My reputation has always been stellar, and my integrity has always been of the utmost importance to me. Indeed, Red Diamond Properties deal could not be funded by my lender, People's State Bank. I returned $1500 of my $2500 retainer to Red Diamond Properties, and was very disappointed when they were not satisfied with that result and felt compelled to file this report. I would suggest to the reader that one negative story after 25years in the finance industry is more a positive than a negative.

I don't see where Cash Now has anything to do with any of this.

y company was defrauded by a gentleman who may be 'posing' as a mortgage broker by the name of Steven Seigle. Mr. Seigle's 'supposed' company, Great Lakes Capital Financial Services, Inc., is located at 32000 Northwestern Highway, Ste. 250, Farmington Hills, MI 48334, (248) 330-6264. However, a broker/development company by the name of LoPatin resides at this address. In October of 2006, our company began working with a mortgage broker from North Star Home Lending in Southfield, MI to refinance three apartment buildings in Southeast MI. Our company generated a commercial rehab packet for North Star Home Lending to search for a best deal for our refinance situation. We were informed that a commercial broker was located that could get one of our Detroit apartment building properties refinanced. That mortgage broker was Steven Seigle. Mr. Seigle requested $2,500 upfront "to continue due diligence, and in an effort to cover minimum costs." Per Mr. Seigle everything was good to go and we would receive an Approval Letter from People's State Bank of Madison Heights in the mail; so a check for $2,500 was given to North Star Lending (written out to Great Lakes Capital Financial Services) and they dropped off the check at the receptionists area at LoPatin Co. On 11/10/06, we received a denial letter from Rita Gjokaj of People's State Bank (Madison Heights, (248) 548-2900). Since the deal did not go through we informed Mr. Seigle, We would pursue other offers and on 11/11/06 a request for the refund of $2,500 was sent to Mr. Seigle. On 12/20/06 a post-dated check for 12/26/06 was written to our company in the amount of $2,500 and the check bounced for NSF on 12/29/06. This morning (1/30/06) Mr. Seigle was contacted by our company and he informed us that he was unable to pay us at this time, due to personal bankruptcy. Also, this morning I called LoPatin, spoke with the receptionist and asked her about Great Lakes Capital Financial Services Inc. I specifically asked her if LoPatin owned Great Lakes Financial Capital Services and she said, "No, the owner of that company sometimes comes in to use our fax machine." Then, she asked if I would like to leave a message for Mr. Seigle.... if LoPatin is not associated with Great Capital Lakes Financial Services, then why is LoPatin's receptionist taking messages for this company. If you come across this guy, don't do any deals with him. Or tell him he'll get paid when you get your check from the bank... I guarantee he'll probably tell you he can't do the deal. He's a crook.