Jeffrey Tung's Real Estate Blog

Where do you go after your home is foreclosed upon by the bank?  Your credit is a mess and you may not make as much money as before, so where do you go?   

The Center for Economic and Policy Research has a report, “The Gains from Right to Rent in 2010″, and has suggested to allow homeowners the right to rent their home, after foreclosure.  By doing so, it may address the nation’s foreclosure problem. 

HR 5028, under Right  to Rent legislation, would allow the foreclosed homeowner to stay in the home as a renter for a substantial period of time.  This would help the homeowners from being homeless and it will help the communities that are experiencing high numbers of foreclosures.

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You’re renting now and your lease is about to expire, do you want to stay for another year or do you think you might want to take advantage of the best buying opportunity since 1968? Well before you make a decision to purchase, there are a few things to consider before you start shopping. Once you understand what’s involved, you will feel better about making a decision to pursue the “Great American Dream of Home-ownership”.

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