Missouri Couple Unwittingly Lease Options Home In Foreclosure, Now Faces Eviction

KSDK-TV Channel 5 in St. Louis, Missouri reports the story of a couple who paid about $1,900 for a lease option to purchase a St. Louis home. They paid a first month's rent of $700, last month's rent of $700 and $500 for the option to purchase the property. It turns out that three weeks after they signed the deal, the landlord lost ownership of the home in a foreclosure sale. To add insult to injury, before the couple received the eviction notice from the mortgage lender, the now-former owner came around and collected one additional month of rent.

The man who sold the house is Wali Furqan, who lives around the corner from the house. He also owns rental properties in the area. For more, see Buyer Beware! Seller May Not Own It.

Go here to watch the KSDK-TV Channel 5 report.

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For other stories on tenants unknowingly renting homes in foreclosure, go here, or here, or here. rent to own lease purchase option scams zebra unwittingly equity skimming beta