A Naples Mortgage company which I have used before is called My Fast Loan Closing. They are about as honest as you will find in the loan and mortgage business. In business for over 20 years right here in Naples they have a long track record of happy clients and sucess stories. I’d highly recommend giving them a call if you need a loan and steering clear of the fraudsters.

INDIANAPOLIS — Two former real estate investors have pleaded guilty to federal charges that they set up straw deals to obtain inflated mortgages on more than 100 Indianapolis houses.

Forty-four-year-old Robert A. Penn of Naples, Fla., and 45-year-old Kevin M. Lafavers of LaGrange, Ky., face sentencing at a later date. Both pleaded guilty to charges of wire fraud, while Penn also admitted to money laundering conspiracy.

Both former Indianapolis residents were indicted in July on charges that from 2003 to 2005 they bought many of the homes for $120,000. Those were later seized by lenders and resold at sheriff’s sales for $3,500 to $26,000.

Under the plea, Penn admitted to fraudulently buying 136 properties for $16.6 million. Prosecutors say the fraud loss on the properties was $6.9 million.