Victims of Phony Home Financing Company May be Able to Keep Their Homes
WESLACO – Some of the victims of a local mortgage fraud case may be able to keep their homes following a federal court decision.
KRGV’s Angelo Vargas explains the case stems from a fraudulent home financing company called Infinite Properties.
The criminals didn’t get to close on any home loans, didn’t build them as promised and when they did get a family into a home, the money wasn’t going to get the title.
Celia Morales, one of several victims, says she paid the co-owner of the company, Rogelio Ramos Jr., every month.
“He took December, January, February and March – four payments actually. Four payments of $900, a lot of money, a lot of money he got," she explains.
When three employees of Infinite Properties were charged with conspiracy to commit wire fraud, she kept her monthly rent since she didn’t know who to pay. She then received a forfeiture letter stating her home could be taken away from her.
One year later, she received a federal court document stating she is not being asked to move at this time and explains it is not an eviction notice.
Watch the video above for the full story.