Renting a foreclosure would be impractical. Even if they did agree to rent to you, a bank will want the property sold and you may get a notice to move in a very short time. Banks are not very warm and fuzzy. As for taking over a mortgage, many of the Fannie Mae and Freddie Mac foreclosures offer Express Path financing. That is almost like taking over, but at a much lower cost than what was owed probably. The express path loans are amazingly good, been seeing around 4.5% interest rates, no PMI, what more do you want. However you will need to qualify and there is red tape. Worth the effort if you can find one, and many times there is competition for it. Best wishes in you endeavors. - Mon Aug 24 2009, 08:56