Desperate, we turned to a company called Advantage Financial which bought our house from us and rented it back to us until we could buy it when our finances improved.
Unfortunately, I was stupid and did not read the contract as thoroughly as I should have, taking the representative's word for what it contained. Instead of the rental payments going to pay down the mortgage as they'd assured us, the price for the house was fixed...and fixed very high.
I suspect some fraud with the contract, but since our copy was destroyed in a flood a couple years back, I have no way to verify it.
Things were going well for a while until we got a letter from Advantage telling us to start making the rental payments to some couple we'd never heard of. It turns out that Advantage sold the property to them and was paying them each month to carry the mortgage while Advantage collected the rent and paid the mortgage, taxes, etc.
It turns out Advantage had stopped had stopped paying the mortgage a couple months before telling the owners of record that they were going to stop paying the mortgage, destroying their credit and dumping five properties into their laps. Our house was already in foreclosure because of this.
Since then, I have learned that Advantage was owned by another company called Loomis Wealth Solutions. Google it. Enjoy the horrors. Apparently Loomis was running a $100,000.00 Ponzi scheme and my house was one of the tokens used to bilk people out of their money. It seems this scheme was running across 6 states and caused a great many people to lose huge amounts of money. Some of the Loomis employees were also arrested for using some of the empty houses to grow marijuana, so we can add drugs to this story of fraud, deception, and theft.
From what I have read, the scenario also includes fraudulent real estate listings to drive up the amount of money that could be borrowed against each property, with Loomis Wealth Solutions, through Advantage Financial, pocketing the difference. The listing for our own house http://www.realtor.com/realestateandhomes-detail/62-W-Fullerton-Avenue_Glendale-Heights_IL_60139_1108608395?mp=1 includes rooms that we do not, and have never had, as well as some weird claim to professional landscaping and recent renovations.
We've spent the last eight months working on either finding a better house or keeping ours. None of the other homes in the area were suitable for us, so we're staying put.
I'm glad this mess is finally over.