Can I rent, lease, or buy back my house that was foreclosed?

Asked by Barbara, Hastings, MN Mon Jun 1, 2009

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Patrick Howa…, Agent, Edina, MN
Tue Jun 2, 2009
Hi Barbara,
I'm sorry to hear about your house. It's hard for me to tell from your question what your current living situation is and if you're still in the house and in the process of foreclosure or if you've moved out but want to find a way to move back into your house. Dakota County has a great free resource that can help you find the answers to your questions. Try calling the Dakota County Community Develpment Agency and speak to the Foreclosure Prevention Specialist at 651-675-4555. You can also check out the Minnesota Home Ownership Center at http://www.hocmn.org. Good luck.
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Elizabeth Fu…, Agent, Wayzata, MN
Mon Jun 1, 2009
If a new owner purchasers the property and offers it for rent, it could happen. However, it is unlikely. Time factors would be against you. If the home is in process of foreclosure or sheriff's sale, you should do everything possible to redeem your loan or renegotiate. If you wish to have more information regarding your options in your particular situation, call me at 612=986-4105. I have experience in working with lenders and I am a mortgage manager. Liz
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