Did you become a renter?

Are you one of the thousands that has lost their home in the real estate bust? Not only did home owners lose their homes but renters got kicked out too. All too often the renters were the very last ones to find out. Some of them had to move in a matter of hours not days or weeks. They paid their rent but the landlord was not paying the mortgage. I wonder if they (the landlords) just skipped out and let the renters take the brunt of the heartache while the rent money went bye-bye.

I have been hearing rumors that some of the foreclosed homes are now being rented out instead of being put on the market. That is a good idea since many people will not qualify for the new stringent loans. There is a website that lists  low income housing on the market. You can search a huge data base of 50K+ listings. When I looked at them they only listed the east coast but I didn't look too deeply. I only know when I typed in my zip code, nothing showed up.

Just last week I was driving by an older home and noticed a "for rent" sign on the front lawn. It had on it $400 a month and the sign stayed up for at least a week. It was not until a few days ago that I noticed the small word at the top of the sign that read "room." They wanted $400 for one room?? No wonder the sign stayed up that long.

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