Bellevue WA â€“ The Stop Foreclosure Institute recently received a question about renting a home in foreclosure.
Short Sale Question:Â â€œI am own two homes that are in foreclosure. I would like to rent the homes during the foreclosure process. I will continue to pay the homeownerâ€™s association fees. I will not be paying the mortgage.
Is it legal to do this? Is there any liability that comes with it?â€
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer to them.Â The Stop Foreclosure Institute is not a law firm. Therefore, we canâ€™t answer as to whether or not it is legal.
We recommend that you check with a lawyer before making a decision. We do know that there are laws forbidding that practice in many states.
For example, Florida recently passed a law that stated that you had to notify any potential renter whether or not the home was in foreclosure before renting.Â Click here to continue reading.