The Texas Department of Savings and Mortgage Lending (TDSML) issued cease and desist orders against Thomas Schober, his brother Geoffrey and their company, El Paso Home Buyers, LLC.
News Story (Texas)
Ryan Hill
KFOX-14 (El Paso, TX)
June 1, 2016
READ THE FULL STORY HERE
Tags: Housing: Mortgage
Organizations mentioned/involved: Texas RioGrande Legal Aid (TRLA)
News Story (Texas)
Ryan Hill
KFOX-14 (El Paso, TX)
June 1, 2016
READ THE FULL STORY HERE
Tags: Housing: Mortgage
Organizations mentioned/involved: Texas RioGrande Legal Aid (TRLA)
DETAILS
KFOX14 first reported on the Schobers’ activities two years ago.
Seven families passed their complaints to the TDSML through their representative at Texas Rio Grande Legal Aid (TRLA). TRLA claims the Schobers have repeatedly sold homes to, “..defraud both homeowners and homebuyers out of nearly two million dollars.”
At least two of those families have filed lawsuits against Schober with K-Sue Park, an attorney at TRLA.
“People who are homeowners with regular mortgages don’t know what a wrap-around is. It’s not intuitive to imagine that you can sell a house with a mortgage still on it with someone else’s name,” Park said.