has filed a complaint against a former local realtor, alleging that the
realtor signed him to a rent-to-own agreement on a property which was later
foreclosed, Chesterton Police said.
police, on March 26 a man reported that, in February 2011, he entered into a
rent-to-own agreement with the realtor on a property in the 2200 block of
Wood Street. The man advised that he’s been paying $1,355 per month, with 5
percent supposedly going to the ownership portion.”
Except that in
September 2013 the man was informed by letter that the property had been
foreclosed on, police said.
The man continues
to reside at the property, police added.
The man at this
point simply wanted the transaction documented. To date he’s paid a total of
$48,870 under the rent-to-own agreement.
The CPD has taken
two similar reports, both involving the same realtor. In the first case, a
Liberty Township woman advised that, in November 2010, she signed a
rent-to-own agreement with the realtor for a residence in the 200 block of
Talon Drive. Under that agreement, the woman made monthly payments of
$1,610.25 to the realtor. Then, at some later time not specified by the CPD
report, she began receiving notices “that the house was in foreclosure.”
The woman tried to
contact the realtor but “he would not return her calls or e-mails,” she
The woman moved out
of the house in September 2013.
She reported a
financial loss of $40,000.
More than two years
later, in April 2010, the man was notified by the Porter County Sheriff’s
Police “that the property was foreclosed and that he had to leave
The man reported a
financial loss of $20,000.
All reports have
been forwarded to the CPD’s Detective Bureau for further investigation.