Mo. Homebuyer In Failed Contract For Deed Gets Deposit Refund From Rent-Skimming Owner/Agent After Notification That TV Station Was Running Story

In Republic, Missouri, KY3 reports:

• With credit getting ever tighter, you might be considering a contract for deed to try to buy a home. One woman hopes you'll reconsider. After thinking she'd be in her home for years, Edna Nelson had to pack up her life this montlh after living in her dream house for just eight months. “January 28, I received a call saying my property had been foreclosed and I had 30 days to move."

• Eight months ago, she signed a contract for deed. She paid $2,000 down and $926 a month. [...] Despite making her payments on time, the seller didn't make his payments - and the bank foreclosed on the home late last month. “It was a shock,” she said.

• She tried for nearly a month to get her money back to no avail. Finally a Contact KY3 reporter called the owner to tell him we were running a story. That same day, she had a check in her hand.

• Nelson got lucky. Many others see their contracts for deed fall through without ever getting a penny back. That's why she wants to warn others to consider every possibility before signing a contract for deed.

For the story, see Consider options before renting to own home (read story) (watch video).

Go here and go here for stories on how easy some tenants found it in getting screwed over in these lease/option, "rent to own" and contract for deed real estate deals. rent to own lease purchase option scams yellowstone