Tuesday, March 2, 2010

Is IT Really Available?



With all of the short sale and foreclosure information surrounding us, I feel compelled to share a word of caution. Especially with Nevada - both North and South being the hardest affected areas in our country. Due to the economy, many folks are looking to rent a home verses purchasing these days. But, is the sole owner property really available? So what am I trying to say, is even though a house may be for rent, it does not mean that it is current on its mortgage payments. A property can be behind in mortgage payments and in the midst of a short sale or even worse in some level of foreclosure process. I just want the renter to do prudent homework before giving someone the first and last months rent as well as a security deposit only to discover in a few months that not only do you not have a home to live in, but the monies deposited have been lost in the transaction. Renters, please be aware of what you get involved in.

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