If the owner is in the process of short selling the home, you need to start looking for another home to move into immediately. You are going to have to move sooner or later so you may as well get it over with as soon as possible. I doubt you will get your deposit back on the home if you put one down. When looking for a new home to rent, try to make sure the owner is isn't behind on their mortgage payments. The owner, of course, may or may not be honest with you, but a good bet is to rent a home the owner has owned for more than a few years. You can check out when the owner purchased the home on your local property appraiser website. Also check out the tax records to make sure their taxes are current.
Good luck! - Mon Jul 13 2009, 14:02