Could renting foreclosed homes be the solution to the housing crisis and credit crisis?
There is a great supply of foreclosed homes in neighborhoods across the nation, and just one has the potential to substantially bring down neighboring home values. And several vacant foreclosed properties in a neighborhood can be serious trouble – not just by decreased home values but also by the potential for increased crime levels.
Some local governments are addressing these problems with laws requiring homeowners (whether individuals or mortgage lenders) to register vacant homes, pay a fee and maintain the property. A national program proposed by the Obama administration could help former owners of foreclosed homes stay in their homes by renting their homes. Additionally, real estate investors could take advantage of the great deals on foreclosed homes and rent them out.
Ilyce Glink, nationally-syndicated columnist, bestselling real estate book author and Newstalk 750 WSB radio talk show host, is hosting a seminar for real estate investors and prospective home buyers on this very topic, “How to Profit from Foreclosure,” on October 24 at the Renaissance Waverly Hotel in Atlanta. Use discount code AREF for a 25% dicsount off of the registration fee.