Profile picture for aviva19

Rent-to-own foreclosed homes - safe or not?

I keep getting all kinds of "special offer" text messages from 77893. I have no idea who these people are but this message from them caught my eye -

Rents from $176/month on local foreclosed homes! Move out in 1 year OR apply the rent as down-payment & own! Call NOW: 1-800-815-7504

I got curious and called the number. The bottom line was that I need to register with them for some $6.75 and then I would have access to their foreclosure list.

Does anybody know anything about this? My lease with my current apartment complex is almost up and I need to decide in the next couple of days if I want to rent some other place or continue living in my current apartment.

If there are any realtors out there who can answer this question, that will be greatly appreciated. Anyone with any kind of related experience (good or bad) who wants to share their knowledge on the subject, please do.

Thanks guys!
  • September 22 2009 - Tampa International Airport Area
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Answers (8)

Quick question...even if you were to pay $6.75 for such a list...what would you do with it?  How would you proceed to make an offer...where would you start...how would you know what price to offer for the property...are you offering too much, too little...will they also sell you a list of what homes have sold for when you find the house you like on the list...and is the house on the list still available or does it have multiple offers on it? 

After answering these questions...do you still want to buy the list for only $6.75?

If yes, I have a bridge for sale...it's located in Manhattan and needs minor repair...please forgive my humor.
  • September 25 2009
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I agree that there is no reason to purchase that list.

Banks are not keeping any secret list of forclosures and you can get that information for free.

If you ever hear someone use terms such as, "secret list," or "exclusive list," run the other direction.

You should contact your service provider and see about blocking text messages from that company. That company is costing you money to advertise to you and what they are selling is information you can get elsewhere for free.

The bottom line here is trust your instincts.

  • September 22 2009
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Scam. 

Put it in the Deleted Folder along with the Nigerian who wants to transfer $400,000,000 USD, and the Discount Meds, and the Southeast Asian Babes looking for marriage, and the rest of the garbage.

"If it sounds too good to be true, it is."

--------------------
Best wishes - contact a qualified Tampa Realtor who can help you find a new place to live.


  • September 22 2009
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Sounds like a scam to me on many different levels. Charging a fee just to have access to a list is the first red flag.

If it were a reputable company I'm sure they would use normal advertising and not charge any upfront fees to rent homes they have.

Save your money is my opinion.

  • September 22 2009
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Mark: Good neighbor policy, please do not put contact information in your posts. People will click through to you if they are interested.


OP: Sounds very scam.

  • September 22 2009
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I agree, sounds like a scam to me.  I would not at all recommend calling them let alone setting up a lease through them.
  • September 22 2009
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Profile picture for asugradinwa

After you pay your $7.00 you can call the people who have little road signs telling you how to make $20,000 a month working from home.

Sounds like a scam to me.  You are getting special text offers, you have to pay for a service.  If this was such a good deal they'd have a list of property that you could search without paying. 

  • September 22 2009
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I have heard of the banks renting out their homes. I haven't heard of any banks doing rent-to-owns. I wouldn't buy that list. Your better off having a Realtor pull up foreclosed homes for you.

If you just need help with the down payment. There are some down payment assistance programs out there. If you don't mind living more over in New Tampa, you might be able to get 100% financing A mortgage broker should be able to find you something with down payment assistance.

Mark
(813) 333-9397
http://www.LuxorDreams.com
  • September 22 2009
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