Foreclosed homes for rent is one of many bridges that will get the housing market on the road to correction sooner rather than later.
Boca Raton, FL (Vocus/PRWEB) January 14, 2011
Foreclosure.com today announced that it recently added thousands of foreclosed homes to its industry-leading, nationwide database of more than 2 million distressed real estate listings.
Foreclosure.com already offers the most comprehensive, accurate and current collection of preforeclosure, short sale, foreclosure, Sheriff sale, foreclosure auction, bank repossessed (bankruptcy), HUD homes and tax lien listings in one convenient location.
Adding foreclosed homes for rent-to-own properties, according to company Vice President James Houston, was a natural progression that reflects a shift in the ever-changing housing market.
“Buyers, who are predominantly watching their wallets closer than ever, as well as financial institutions, which have tightened their lending requirements significantly, are all super cautious right now,” said Houston. “Renting foreclosed homes with options to buy them at later dates is the best of both worlds: Buyers aren’t locked into long-term, expensive contracts and banks don’t have to worry about a glut of defaults.”
Houston adds that the renters of foreclosed homes also have time, which all depends based on the individual agreements, to “test drive” communities and neighborhoods, all the while putting dollars toward potential purchases. It also helps revitalize foreclosure-ravaged homes, which can often drag down surrounding property values if left in states of disrepair.
“Foreclosed homes for rent is one of many bridges that will get the housing market on the road to correction sooner rather than later,” said Houston. “And, because our listings are bank-owned with options to buy, renters don’t have to worry about having their homes sold from underneath them.”
To search for potential foreclosed rent to own homes in your area visit http://www.foreclosure.com/rent_to_own today.
With more than 2 million preforeclosure, short sale, foreclosure, Sheriff sale, foreclosure auction, bank repossessed (bankruptcy), HUD homes, foreclosed rent to own homes and tax lien listings in one place, Foreclosure.com delivers America’s largest and most accurate searchable database of foreclosed homes and investment property information to its customers and business partners. Based in Boca Raton, Fla., Foreclosure.com works directly with hundreds of top lending institutions and government agencies to list diverse property types on its Web site, as well as features listings from an extensive network of corporate sellers. As a result, the company has been recognized by high profile media outlets and prestigious non-profit industry groups alike as the number one rated distressed property listing resource available anywhere. Foreclosure.com offers much more than just real estate listings, connecting sellers, buyers and agents in one convenient location as a one-stop real estate marketplace.