ST. LOUIS (KMOV) –- The Better Business Bureau has a warning for anyone hoping to lease a home until you can buy it.
Several consumers claim they’ve lost tens of thousands of dollars dealing with real estate investor Jack Roddy. After signing a lease-to-own agreement on a house back in February, Brian Wilson says he found out last week that his home is in foreclosure.
The BBB says Roddy failed to pay the mortgage, and that Roddy has at least two other consumers who paid more than $10,000 in down payments and now risk losing their homes.
Calls and visits to Roddy went unanswered.
The BBB says to exercise extreme caution when entering a lease-to-own agreement. It suggests asking for references and researching the company before signing anything.