Lenders do not rent their REO. (real estate owned). If you have credit issues you may want to look into talking with a professional who can point out what needs to be done. We can help you own a home in a year if you are serious about restoring your credit.
Best of Luck;
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
Ex-Mortgage Broker of more than 10 years
We also have a DIY service.
Have an amazing day.
The challenge is two fold: of the 103 home and townhomes for sale in Gilroy 2 are bank owned and 94 are Short Sales. To find more bank owned homes one would have to spend a considerable amount of time down at the Court House keeping track of the bank owned (and NOT on the MLS) homes or townhomes. Typically those investing such time are those who are looking for to buy for themselves.
Secondly, our experience shows that by the time a home goes into foreclosure and is owned by the bank, the bank simply wants to get some cash (sale) to offset their loss. They do not need income (thanks to the bank bailout) so rental income has no draw. Conversely, Short Sales, often generate more cash for the bank than the foreclosure - hence, 2 out of 103 homes are bank owned.
For more information feel free to text or email me.