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Southwest Escrow Accused Of Taking Over $500,000

Posted: 4:00 pm MST November 4, 2009Updated: 4:59 pm MST November 4, 2009

KFOX has uncovered that Horizon City-based Southwest Escrow is at the center of a civil lawsuit. The company abruptly shut down last month, and according to the lawsuit, it took hundreds of thousands of dollars with it.

The owners of the company have disappeared leaving land owners and brokers wondering where their money is.

"It's horrible. It's like, it was very unexpected. It was the last thing that I expected,” said Rose Villarreal, who had been making payments to Southwest Escrow for 19 years. "I'm six months away from paying off my land."

Now Villarreal is terrified after her October payment check has disappeared and her taxes for this year have yet to be paid. Southwest Escrow was in charge of paying her taxes, and Villarreal has already paid them.

According to a 22-page lawsuit brought against the absent owners of Southwest Escrow by a number of land brokers, the company disappeared with more than $133,000 in property payments. According to the suit, another $357,000 in clients’ property taxes are missing.

For Villarreal, she is looking through her deed, and trying to figure out what she can do.

"I'm very worried right now. I am very stressed, because I'm thinking, 'Where's my money?' If they're gone, they didn't a send a letter saying they were closing or anything,” Villarreal said.

Stay with KFOX for continuing coverage of this story.

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