This is an interesting and very timely question. The bank will not rent to you unless you have a lease that is in force and in effect now and at the time they finally show up. Because of the new rules, banks cannot force renters/leaseholders to leave. I recently concluded a sale working with a renter who lived in a bk'd home who wanted to purchase it. Because of some other circumstances, the entire process took 14 months to complete. Here's what's happening out there: In a bk, the court will notify the mortgage company who will institute the foreclosure. This process normally takes 3-4 months. In the current market, mortgage companies are trying to deal with hundreds and thousands of people who cannot make their payments causing everything to be delayed. The Fed is also trying to stop or slow down the rates of foreclosure with moratoriums, re-financing deals and more. All of these things are slowing down any normal process. These actions are taking priority to the bk asset. They want to keep people in their homes. The court is in no hurry, your file is at the bottom, I wouldn't be surprised to see it take a couple years. Then again it depends on whose desk the file ends up on. Hope this helps a little.