Zillow Advice: Rentals - Can I rent a home that is going into forclosure? http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ Zillow Advice | Zillow Real Estate I would never suggest renting ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ I would never suggest renting a home that is on it's way to foreclosure. There aren't any benefits to you and you could get caught up in the ugly process of the bank taking over the home. Most homes go to foreclosure in the first 3 to 6 month of the seller not paying the home loan. During that process, anyone living in that home is subject to visits from the banks representatives. It's such a mess. I don't know a sole who would want to be involved in it. &nbsp; Sun, 19 Feb 2012 02:59:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-02-19T02:59:00Z I would suggest finding a ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ I would suggest finding a local real estate agent to help guide you through the process and I would strongly suggest avoiding renting a property going into foreclosure. Fri, 17 Feb 2012 20:21:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-02-17T20:21:00Z Find a Realtor in your area, ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ <p>Find a Realtor in your area, and have them help you.As a tenant or buyer,you do not pay for any services&nbsp;to Real Estate agents.You should avoid homes facing foreclosures.</p> Fri, 17 Feb 2012 06:40:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-02-17T06:40:00Z Also be careful about giving ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ Also be careful about giving a deposit.&nbsp; The other trouble is if repairs are needed or the water heater or air conditioner breaks, the seller may not be able to fix it. Thu, 16 Feb 2012 20:58:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-02-16T20:58:00Z Sure, why not?&nbsp; You ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ Sure, why not?&nbsp; You need to know that you should pay below market rent for the incovenience of allowing buyers and their realtors trapsing through with only 12 hours notice, though.<br/><br/>And technically if you are paying "below" market rent then the foreclosing lender does NOT have to honor your lease and may only have to give you 90 days notice (when they do the final foreclosure judgement auction at the courthouse you will get served.)<br/><br/>It's common to get "cash for keys" of about $2k so if it's worth it to you to have to move, then go right ahead and rent a pre-foreclosure.<br/><br/>Also, the Seller may be foolish to "convert" his former primary residence to a "rental" property by renting to you because he may no longer get the&nbsp; exemption if he's forgiven money on the short sale of his home.<br/><br/>All the best,<br/>Alma Kee, Future Home Realty Thu, 16 Feb 2012 20:57:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-02-16T20:57:00Z Humm,,, Im confused. Why ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ Humm,,, Im confused. Why would you want to rent a home that is going into foreclosure? There is no telling how long you can stay in the home, it could be anywhere from one month to a year.<br/>Or are you interested in occupying an home without paying rent until the foreclosure process is complete? I do know that the banks are now working on solutions to avoiding vacant homes because vacant homes= decreased property value and theft.<br/>I would recommend you rent a modest home for a modest price and save your money! Then in three years you will be good to purchase again.<br/> Thu, 16 Feb 2012 20:23:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-02-16T20:23:00Z Renting a home going into ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ Renting a home going into foreclosure is only going to be a haedache. Never knowing when you will have to leave to find another place to rent. There are many issues with a property going into foreclosure Sun, 22 Jan 2012 23:16:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-01-22T23:16:00Z Just like people who rent ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ Just like people who rent on month to month base. Renters expect to leave anytime. Most likely, you may get very good deal because of the seller's situation. For some of them, they are free money to them. It may be a good solution to both parties. Wed, 11 Jan 2012 15:08:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-01-11T15:08:00Z I've heard about cases when ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ I've heard about cases when people had to go through a short sale and then their income situation has changed. They called the same bank they had to do a short sale&nbsp; and ask for another loan. They wrote a good letter with the explanation and they got a new <a href="http://www.zillow.com/mortgage-rates/">loan</a> from them only 4 months later. Keep in mind, if your situation changes, yoiu still might be able to buy a house earlier than 3 years. Wed, 11 Jan 2012 04:42:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-01-11T04:42:00Z Two different agents have ... http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ Two different agents have used the term "loosing their home"... Is the home too tight or&nbsp;something?&nbsp; Wed, 11 Jan 2012 04:28:00 GMT http://www.zillow.com/advice-thread/Can-I-rent-a-home-that-is-going-into-forclosure/426303/ 2012-01-11T04:28:00Z