Living After Foreclosure

Maybe yours is too.

Over the past few years I’ve seen people occasionally posting a place for rent or sale.  Usually not too often.  For the past couple of weeks, I’m greeted each day with four advertisements for property.  Three of them are looking for renters.

It might be just that lots of people have vacancies now, or it could be that the owners are in a pinch, have moved, and need to stop the bleeding because they can’t sell.  One way to stop the bleeding is to rent the house out.

I think there will be more need for rentals as people lose their homes to foreclosure.  They’ll need to live somewhere.  But renters can move.  They can find good deals.  They don’t have to settle for above-market rent just because the owner needs to charge them that to stay afloat themselves.

Workplace MLS is a cheap way to sell real estate.  Maybe it’s all people can afford to do?

• HUD tips for avoiding foreclosure: Part 2 The US Department of Housing and Urban Development has some good advice for people that are in danger of losing their home through foreclosure. I talked a little about the first three HUD tips here.  Here are some more tips from that list, with some discussion. Know your mortgage rights.......
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