Wallen Builders constructed higher-end homes, many of which are in Sandoval County. One of Wallen's owners, Eric Wallace, said his company was the victim of a bad economy, a credit crunch and banks pulling back on lending money. Not matter what the reasoning, Wallace said the company paid back 20 to 30 homeowners. However, 13 families claim they are still out money from the company's closure. One example of an irate homebuilder is Ken Kummet.
Kummet and his wife put down a $5,000 deposit in January 2008 for a home near the intersection of U.S. 550 and New Mexico 528. The Kummets planned to retire in that home in Sandoval County.
"We were really looking forward to it," said Kummet.
But a year after their deposit, the homebuilding company went belly up and the Kummits were now out $6,600, after putting down additional money.
"It's criminal to me because somebody has $6,600 of my money, and I've got absolutely nothing," said Kummet.
The Kummets were not the only ones with complaints. The Kummets, as well as 12 others, filed complaints with the Attorney General's office. The complaints were similar - with one customer claiming they were left without $170,000.
The Attorney General started to investigate. However, a year later, the office decided to pass on the case and not prosecute Wallen Builders.
"I think we could have done something, but it wouldn't be beneficial to the homeowners," said Rebecca Branch, the deputy director for consumer protection at the A.G.'s office. "The business is already out of business. We're not going to prevent future damage, and we could only get restitution for the homeowners."
After that avenue was exhausted, the jilted homebuilders went to New Mexico police to see if they found Wallen Builders' actions criminal. In May 2010, detectives decided to not charge the company's owners either. The only option for the shorted customers to get their money back now, is to hire a private attorney. $6600
Wallace said he wishes he could do more for his former customers.
"We certainly have the most heartfelt sorrow for how we left out customers," said Wallace. "Ethically, we've done everything and feel well about how we handled the situation as best we could..."
Wallace's apology is not enough for Kummit. Kummit only has one message for Wallen's owners: "You're crooks; you're criminals; you've taken my money."
KB Homes has taken over many of Wallen's lots. Another company already built a home on the lot the Kummits wanted. The Kummits have since moved to another subdivision in Rio Rancho, where they hope to retire.
http://www.krqe.com/dpp/news/on_assignment/homebuilders-left-without-refunds
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