We specialize in foreclosure prevention and selling homes that are in the process of foreclosure. Unforetunately, we often have to deal with tenants that are affected because of the problems their landlord is facing.
No bank is willing to "rent" the property if the home foreclosues and the bank retains ownership of the home. The home will either be sold at an auction or as a bank owned property.
Stay away from this property. There are many other good deals in Houston.
Do you really want your deposit going to someone who hasn't paid the bills?
Have you signed a lease yet?
Ask to get everything in writing....if the bank will let you stay will they be responsible for your deposit and how long will they let you stay? Get that from the bank and not the agent.
You stand the risk of getting in and then the foreclosure happens and you're evicted in another month or two.