Foreclosure Strategies
May 10 2018
The best way to deal with a foreclosure is to take aggressive legal action when the foreclosure laws... [Read More...]
January 27, 2014 By
In addition to homes being foreclosed, homeowners who need cash flow are putting their homes on the market as rentals. They are even doing this during the foreclosure process. Since the foreclosure process in many states takes years, homeowners can literally move out of their home, charge rent to a tenant, and put the rental money in their pockets and not make their mortgage payments.
Rentals are Better than Vacant Homes
Officials in local areas have a preference for foreclosed homes to be rented instead of being left vacant. Vacant homes can be a blight on a neighborhood. They can invite trespassers and can be utilized by children for inappropriate purposes.
Although renting a home does provide a family with a place to live, it may not be their first choice. Their more likely first choice would be to stay in the home they had owned and not to have lost it in foreclosure.