Neko, Other/Just Looking in Milwaukee, WI

Can the owner who was foreclosed upon (sale confirmed) rent the property for a period until she finds home for her family?

Asked by Neko, Milwaukee, WI Wed Apr 20, 2011

debtor is a minority woman with teenage children and has been unable to locate housing. She was unable to buy her way out of foreclosure but needs to rent housing.

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3
Tracey Martin, , Salinas, CA
Thu Apr 21, 2011
If it went back to the bank a Realtor will be knocking on her door asking when she can move out. She should explain her situation. They will offer cash for keys, which will help with moving. I have heard that there are banks renting back to homeowners who have been foreclosed on, but I don't know any that actually are. If the home was bought by a third party, it will be up to them. The most important thing to do is to communicate with the new owner. If she avoids them or does not explain her problem, then they will probably start the eviction process for your state right away.
0 votes
Tracey Martin, , Salinas, CA
Thu Apr 21, 2011
If it went back to the bank a Realtor will be knocking on her door asking when she can move out. She should explain her situation. They will offer cash for keys, which will help with moving. I have heard that there are banks renting back to homeowners who have been foreclosed on, but I don't know any that actually are. If the home was bought by a third party, it will be up to them. The most important thing to do is to communicate with the new owner. If she avoids them or does not explain her problem, then they will probably start the eviction process for your state right away.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Wed Apr 20, 2011
It would be totally up to the new owner, often it is the bank that foreclosed so I doubt they would allow it, but you could ask.
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