Thursday, March 04, 2010

Another "Lease To Own" Horror Story As Rent Skimming Landlord Stiffs Bank, Pockets Payments From Would-Be Buyer; Single Mom, Kids Left Facing The Boot

In Burleson, Texas, WFAA-TV reports:
  • It's not her dream house, but it is Teresa Salinas' first home. Now, the single mother said she is afraid she will lose her home after learning it's in foreclosure. The Burleson house is up for public auction Tuesday at the Johnson County courthouse. "I can't afford to buy a house and my credit isn't good enough to rent an apartment," she said.

  • The mother of two was renting-to-own the home from a company called Buying Homes Today TX Inc. The company is operated by Lana Smeenk, who according to bank records has been receiving mortgage payments monthly from Salinas. Those payments apparently were not used to pay down the loan, and Salinas got a foreclosure notice in late February.

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  • Smeenk has not returned calls or e-mails, her clients said. "I have nothing to say, thank you," she told WFAA from her Joshua home. She also turned down an interview request from WFAA.

For the story, see Burleson mom faces foreclosure despite monthly payments.

For story follow-up, see Eviction notices canceled by California investors.