This beautiful Mililani Mauka home didn't come without a price. A price the Agbayani family were told they could afford. By a local mortgage company they're now suing.

"They told them they could qualify for a million dollar purchase knowing that the income for the entire family didn't equal the mortgage payments."
Their lawyer, Michael Green, claims that California based, Freemont Investment & Loan and Hawaii based, 808 Home Mortgage pulled a fast one on the family.

"They did their first loan, they trusted them," says Green. "At the closing they did the bait and switch, gave em a second mortgage."

The lawsuit states the companies knew or should have known the Agbayani's couldn't afford their new million dollar home. But, loaned the family virtually one-hundred percent of the sale price anyway.

"It's kind of outrageous," says Green.

He says the family is home to Benny's father and mother who are both retired. And Benny's brother, sister-in -aw and their children. All net a monthly income of less than 75-hundred dollars a month.

"But they way it was presented to them and the fact they knew their assets, knew what they had, and said don't worry we will qualify you led them down a path that was kind of unbelievable."

The Agbayani family says they were too trusting - and wish now they could turn back the clock.

"Who in the world loans people 100% loan on $1M house when they're income isn't the mortgage payment and telling them don't worry about it."

And now that's just what they're doing. In a home they can't afford and no way out. Facing foreclosure.

"They're looking at being put out on the street," says Green. "Better not foreclose on this family and we'll see what happens in court."

The suit is asking for 3-million dollars in damages. Accusing both companies of fraud, civil conspiracy to commit fraud and negligence.

808 Home Mortgage says they have not seen the lawsuit and are unable to comment at this time.

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