You may have read recent headlines about banks renting properties in default or foreclosure. For the most part those efforts are currently aimed at trying to rent the home back to the former owner rather than to evict them. With the growing number of foreclosures, though, it may eventually come to pass that lenders have to get into the landlord business. Banks/lenders are not equipt to manage rental homes currently and there are many costly infrastructure changes that would have to take place to make it feasible. For now I'm not aware of any lenders engaged in such a program. If you are in a place in your life where you are considering home ownership there may be many attractive advantages to pursue your desire. Home prices have become very reasonable and interest rates are probably the lowest I have seen in my 25 years of real estate experience. If you are not in a position to apply for a bank loan there may still be some opportunity to purchase a home on land contract or rent-to-own terms. I work with first-time buyer's as well as repeat home buyer's. Call me and we can chat about what may be right for you. Ken Richardson (260) 422-1888
The previous agent has it correct. Repossed homes are not available to rent by banks. They want to get their money and run.
I am curious, you identify yourself as a renter. The nature of your question make me think that you really would rather stop renting & have a home you can call your own. If you call or send me an email, I should be able to help you with that.