Complaint / Review
El Rancho Home Loans Inc
Ripoff

I started out in Jan. 2002 to buy my first home. I got pre approved, found a great agent and a home we wanted.

We opened escrow march 7th. There is a tenant that needed to be evicted, EL RANCHO HOME LOANS is the property management company, specifically JOE CERVANTES. After numerous telephone conversations he was telling us how the eviction was going through the legal process. One problem, the tennant was making no move to leave, so we couldnt close escrow. After being told it was "in the sherriffs hands, they are backlogged" by Joe, we waited and waited.

Finally our agent discovered, Joe had never filed an eviction! We also found out we are about to lose the house because it is going to auction due to loan default. We also discovered that RANCHO HOME LOANS INC has notes on the property.

So after three monthes we are now homeless[renting a room] and need to start over. I thought buying a home was the AMERICAN DREAM, not a NIGHTMARE.

Twain
newbury park, California