Coeur de Coeur, Idaho, real-tor Alex Rizzo has a story to tell.
He bought the house for $1.4 million in January and had to do the deed.
The house sits in the town of Coeur-de-Coeur, about 30 miles east of Boise.
Rizzos father bought the land for $300,000 when he bought the family ranch in 1996.
The real estate agent and his wife had bought the property for $500,000 in 2001 and paid $300 a year in mortgage payments, according to Coeur County real-tourism bureau records.
They are expected to pay $1,300 a month in rent for the next seven years, RizzoS family said in a statement.
Rizos family had also received a $200,000 loan from a lender to buy the property.
Rizos father said in an interview that he was shocked when he learned he would be owing the couple $5 million to $6 million.
“They are not making a lot of money.
That is not my money,” he said.
Rizzos family said they had been told the loan would be forgiven after the sale, but he said he was unaware of that.
“My dad and I were shocked,” said Rizoses son, Jordan Rizowitz, 24, who lives in Cour d’Alessandre, Idaho.
He said he and his father were trying to find a way to make payments, but were told by a bank manager that it would take a year or more to pay off the loan.
Jordan Rizowsky said he had tried to call his dad but was told he couldn’t because his phone was out of service.
Riazowsky said his dad has lived in the house since 1997.
“I have been paying my mortgage on it.
It’s a good thing they got it,” Jordan Rizzowsky said.
He said the loan was a shock, but that his dad was “really excited about it” and is hopeful they can repay the money.
Riazowsky has lived and worked in Coeloce, Idaho for about 10 years, according a recent LinkedIn profile.
He is a member of the Idaho House of Representatives, the Idaho State House of Delegates and the Idaho Republican Party.
Ritzowitz said he will work on his political ambitions in the coming weeks.
“It’s going to be a real challenge because I’m a Republican,” Rizowsy said.
“I’m not a Democrat.”
Rizowz family has lived on the property since 1996.
He owns the land with his brother-in-law and has been renting the property out for $2,000 a month since March, he said in the statement.