Kms property managment is selling homes on land contract terms and not making the payments to the bank.
On jan 13 we purchased a home from KMS properties, stephanie and mark handy,
we gave them a down payment on 10000.00 and 6000.00 for advance payments. The total of the cashers check was 16000.00. On Jan I stated making my Monthly house payments as agreed apon
my payments were made on time every month. On May 6th I received a letter from commercial bank informing me that the property at this address was in default for the loan.
This was the first time I knew anything about a loan, we were led to beleive mark and stephanie owned the property.
While talking with the bank he explained that yes KMS was in default on the loan they have out on the home. The letter i received said there had not been a payment on the loan in 273 days... What!!!
They also explained that we were not the only ones that were involved and up to 30 properties could be involved
the bank also told me that they payed the land taxes because they were past due and we were paying the taxes to KMS.
An attorney we spoke with said that this is a buyer beware type situation.
Now we are not sure what we are going to do we have 4 kids and we are going to have to move and we have NO MONEY THEY STOLD IT FROM US!
KMS has properties up for sale RIGHT NOW, "whereicallhome.com" upon my own investingating they stated they are showing the property and it is avalible on a land contract!
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