Las Vegas Man Files Suit In Loss Of Home In Foreclosure Rescue Deal
The lawsuit alleges that Ken Ragle, aka Kenneth Ragle, the president of a company called Dreamscape Solutions, agreed to purchase the victim's home for $233,000. The deal would stop the pending foreclosure and offer the homeowner the chance to stay put. He would then rent the house from the Ragle and buy it back in a few years for close to a $100,000 over the purchase price. Before the closing, Ragle reportedly flipped the contract to a California realtor named Shana Burbank. When all the dust settled, the $233,000 sales price was never paid, nor was the homeowner's existing mortgage ever paid off, and the homeowner found himself being evicted from his home.
For more, see I-Team Investigation: From Homeowner to Homeless.
To read the lawsuit, see Complaint - Ogilvie vs. Dreamscape Solutions, Inc., Kenneth Ragle, et al.
Go here to watch KLAS-TV report by investigative reporter Colleen McCarty.
(revised 5-12-07)
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