How you can really be “passive” landlord — profiting without doing any back-breaking work, taking any late-night phone calls, or dealing with any nightmare tenants.
I was so glad to find this news program on the federal law concerning rentals and foreclosures. This topic has been on my mind for a while. Unfortunately, in my travels, I’m seeing “For Rent” signs in yards that I know are in foreclosure. So how do you protect yourself as a tenant? If you’re looking for a rental you will want to know if the landlord can legally rent to you with a lease, while in active foreclosure, and what your rights are if you get a notice of default on the door. This article does a great job of explaining both. Take a look!
If you are actively looking for a rental, you’ll want to make sure the current owner is not in default on their loan, if they have one. You can pay to have a membership at Realtytrac or www.foreclosures.com
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