Home Buying in Trotwood>Question Details

Boss Lady, Home Buyer in Trotwood, OH

is there ever a situation when a lender that has posession of a foreclosed property to rent the property?

Asked by Boss Lady, Trotwood, OH Sat Jan 5, 2013

we would be doing a move from another city & have a house there to sell

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2
Fred Yancy, Broker’s answer
Th only scenario where I have seen something like that happen is when a renter already has a lease, the property owner is foreclosed on and Fanny Mae takes over the property. They will allow the tenant to run out their lease before having to move. But to rent it out to a new tenant after foreclosure - never.
0 votes Thank Flag Link Sat Jan 5, 2013
I've never seen a bank rent a foreclosure. The bank wants to remove none performing assets from its books, they don't want to be in the property management business.
0 votes Thank Flag Link Sat Jan 5, 2013
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