Phoenix-Area "Rent To Own" Tenants End Up Empty Handed

In Phoenix, Arizona, KNXV-TV Channel 15 reports:

• Moving day can be hectic and a lot of work. But it can also be exciting. Owning a home was the American dream for JoAnne McCoy. Joanne signed a lease-to-buy agreement. She says she was told half her monthly rent would go towards buying the house. Leonard Boyer heard the same thing. He says he paid out in total about $33,000 towards purchase, but says the house he was living in was foreclosed on. Joanne paid out in total about $21,000 and says her owner decided not to sell. They signed contracts with Home America Property Management. A company owned by Mark Bosworth.

***

• This foreclosure complaint isn’t the only one against Home America. Sam Wercinski is the Commissioner for the Department of Real Estate. “The number of complaints we have received are significant.” His office found 22 open investigations involving Mark Bosworth's real estate businesses, 18 of them are against Home America.

For more, see Valley real estate company investigated after tenant complaints.

For more on problems with "Rent To Own" and Lease / Option real estate deals, go here and go here. rent to own lease purchase option scams yellowstone