You Want to Rent a Foreclosure Home?
I actually got a call from a potential home buyer the other day
and they were considering renting a foreclosed home. The buyer
was having credit issues, so they knew they would have to rent
for awhile before they could purchase a home.
I explained that foreclosed homes are not for rent and probably
never would be. The bank or investor just wants to sell the property
and recover some of their investment. They are not interested in
keeping the home for any reason.
I have seen an increased interest in people renting single family
homes. For many reasons, former home-owners are now renters.
If you have a damaged credit score, renting for 2 years and
getting your score repaired is crucial before you can buy a
home of your own. Speaking with a mortgage loan officer can be
helpful in getting your credit score back into shape so you can
buy that home when you are ready.
Avoiding foreclosure for current homeowners can be found here.
SEARCH For GRAND RAPIDS HOMES
5 Factors That Decide Your Credit Score
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The authors of the this blog write about Grand Rapids Real Estate,
the Greater Grand Rapids MI area, and what it is like to live in
West Michigan. We believe: Grand Rapids is a Great Place to Live!
Westbrook Realty Grand Rapids MI Real Estate
Contact Terry 616-292-7263