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Review 9/15/2010
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I also gave Michael Franks money to do a loan modification/principal reduction. I was told the same thing, that if it didn't go through that all my money would be refunded. As of today I have not received any refund. I followed up with my mortgage company to see that he had submitted all the paperwork and they told me that nothing had been received. When I contacted Mr. Franks he became very defensive. He told me he had talked to loan processors but could never provide me any names. I also asked for copies of the paperwork that he had submitted & I also was told it would be emailed but I never received any, just a fake application & comparable listings that he pulled off the internet. I started investigating and found out that in October of 2009 Arnold Schwarznegger signed Senate Bill 94 which prohibits any person from collecting an advanced fee for a loan modification. I have filed a complaint with the Department of Real Estate as well as filed a small claim to get my money back. As of now I have not been successful in locating Orange Coast Capital.
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