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I have a signed contract for a rent option to buy?

I have a signed contract for a rent option to buy with a real estate investor. If I did not buy the property they would be opligated to buy. I paid rent but because supposidly others shorted investor on rent and stole money from her my rent did not pay mortgage on rent to own property. Because of the circumstances can this investor be charged with fraud? They ignore calls from other sellers and buyers who were hurt by this situation and never return calls. Is this considered fraud by her with all the circumstances

Public Comments

1. no fraud as far as the law goes, just a bad business. The original owner and tenant may have civil recourse on this "investor" but most all these deals the "investor" is using a sideways LLC and has no assets to collect on. The tenant or original owner would have the necessary cash to hire an attorney to purse the case anyway or neither would have went for this wacky deal in the first place. The last rent to own tenant, the original mortgage holder and the lender all get the short end of the stick. quite a few states have pending bills to outlaw this practice, if and when they make it to law is any-ones guess
2. Definitely talk to a real estate lawyer about this. They will need to review your Lease Option (rent to own) paperwork. You are still entitled to purchase the house for your agreed upon amount in the paperwork, whether she has paid the mortgage or not. She will need to come up with any shortfalls because she didn't pay the mortgage on the property. It will affect the transaction, as the bank will now need to approve a short sale, so you will have a bigger hassle doing this, but you can still have the Lease Option contract enforced. Get all of your options from a lawyer before you make a decision. Good luck!