DENVER -- More than 100 homeowners in the metro area are out $2,500, and some have lost their homes because of a company that promised to modify home loans, but instead stole homeowners' money, investigators said.

Robert and Gena Ramirez purchased their home three years ago. It was the house that felt like a home -- a place where their two boys and a third child on the way could grow up.

But they almost lost it, when they tried to refinance their mortgage.

"[Santiago Pineda] was so convincing," said Gena Ramirez, a Denver homeowner. "We kept even telling [Pineda] we have kids to take care of. He promised us that in our situation he can work [on the loan with the bank]."

Pineda has been arrested and charged with 11 counts of felony theft. Pineda, along with two other employees, worked with American Mortgage Consultants, which is also known as American Mortgage Counselors.

According to the Ramirez family, he told them he would help them modify their loan in order to avoid foreclosure, in exchange for $2,500 up front.

7NEWS asked Denver prosecutor Joe Morales if that was legal.

"No, under Colorado law, underneath consumer loans, if it is a commercial loan or a hard money loan you can be asked to pay a fee up front, but in a consumer loan for a home they cannot ask you for a fee up front," said Morales. "They have to get their fees after the loan is originated."

During the process, the Ramirezes said Pineda told them not to contact their bank or even let them know they were dealing with AMC.

AMC used to have an office inside a building off South Parker Road. When 7NEWS went to the office on Monday, the door was locked and no one answered our knocks.

Morales said AMC stole more than $300,000 from more than 100 families over the last two years.

"We have not been able to determine that anything they were doing was legitimate," said Morales.

Luckily, the Ramirez family realized what was going on and contacted their bank, saving their home.

"[Our bank] did agree to work with us and put the $10,000 [we missed] at the end of our loan," said Ramirez.

Not everyone was as lucky as the Ramirez family. Morales said some victims of AMC had their homes go into foreclosure.

Morales said this investigation is ongoing and additional arrests are possible. He asked that anyone who has worked with AMC contact him or the Denver District Attorney's office.