Thursday, January 13, 2011
7 News Investigations: Good Deed Gone Wrong?
He found a way to help people losing their homes in foreclosure from the bank and then turn around and sell it back to the owner after getting financing for them, but now one person is suing him because he couldnt get her financing. Fair? You decide, here is patrick fraser
WSVN - There is an old saying, it pays to be nice most of the time.
LUIS VALDEON: "I regret this deal, but not helping peopel."
Meet Luis Valdeon who has become a sort of real estate Robin Hood in South Florida buying foreclosure properties and selling them back to their owners.
LUIS VALDEON: "You are legally the owner of the property back."
When Carlos couldn't afford his $250,000 mortgage, Luis bought his house in foreclosure for $80,000 and sold it back to him for $123,000.
LUIS VALDEON: "God bless you guys I wish you the best."
LUIS VALDEON: "My parents were frantic."
When the Gonzalez' couldn't afford the $600,000 mortgage on their home and avocado grove, Luis bought it from the bank and sold it back to them.
Esther Liontos: "She said an Angel appeared that day, and that was Luis."
And in 2009 Luis also bought this house that Smyrne Matis's brother was losing in foreclosure and agreed to sell it back to Smyrne for $115,000.
Patrick Fraser: "Smyrne was happy to see us that day. Luis was happy, now lets move forward a year and I will use another old line that was then this is now."
LUIS VALDEON: "how can I snatch it the house is already mine I dont have to snatch it its mine for a year and one month."
Today, Smyrne has an attorney talking for her. When she sees our cameras she tries to move out of the way, and on the way into court tells us not to put her on TV, needless to say Smyrne and Luis are not best friends.
LUIS VALDEON: "She has not paid me one dollar in a year and one month not one cent she has lived there from free."
Instead of buying the house from Luis, Smyrne has been living in it for free battling Luis to avoid being evicted.
This month, when Luis showed up to ask a judge to evict her, Smyrnes attorney handed the judge a lawsuit. He has filed to stop the eviction.
The lawsuit says Smyrne is suing Luis for fraud because he could not get her the bank financing to buy the house. Luis attorney called the lawsuit a stall tactic.
Luis says the lawsuit is ridiculous that Smyrne could not get financing because of her financial problems.
LUIS VALDEON: "She owes $20,000 to the IRS and she bounced a check."
Smyrnes attorney says he was not aware of any of that. That Luis promised to get her financed and should deliver.
Darryl Mitchell: "When it comes down to actually giving them some financing or giving them a house to stay in, they didn't do that. They promised her something and re-nigged on it."
In court, the judge again refused to evict Smryne. She can stay in the house for at least another three months till the next court hearing.
Judge: "For purposes of this matter iI am going to stay the writ for 90 days."
The new lawsuit filed could take a couple of years forcing Luis to pay the taxes and insurance, allowing Smyrne to live there for free even her attorney admits its strange.
Smyrne Attorney: "I think it's terrible that someone would be living in a house for free you should be able to pay something right? But you should also get what you were promised don't you think?"
Luis Valdeon says he has helped 200 people stay in their homes after being foreclosed on 199 left him smiling and then there is this one.
LUIS VALDEON: "If I can help people I will, but this one it's just one of those cases the dog bit me so take it like a man and keep going forward."
Luis thought he was being nice, helping Smyrne stay in her home. This time, he says it didn't pay to be nice.