Call 4 Action: Bank to seize several homes in Olmito
Wed, 18 Feb 2009 15:35:53 GMT —
Residents of the Olmito Estates neighborhood in Cameron County issued a Call 4 Action after facing eviction.
Their homes are going to be seized by a bank after the developer allegedly didn TMt make monthly loan payments.
Santos Garza told Action 4 News that he is one many residents who received an eviction notice Feb. 11.
My understanding is that they got a loan from a bank but they haven TMt paid that loan so they want us to foreclose on the house, Garza said.
According to the letter, Grande Valley Homes, also known as Casa Linda Homes, took out a $5 million loan with First Horizon Loan Company out of Florida.
Grande Valley Homes allegedly never made loan payments, prompting the bank to confiscate lots owned by Casa Linda and kicking out entire families.
The bank wants all residents out of their homes by March 3, but residents say the situation is not their fault. Garza said he wants Casa Linda Homes to explain what happened and resolve the situation.
I want them to personally give us a call and let us know what TMs happening, he said.