Tags: Foreclosure, rent, rent skimming
Can you legally rent a home to someone knowing your home is in foreclosure
August 13th, 2008 by Jarad S.
Question: Can you legally rent a home to someone knowing your home is in foreclosure
Answer: -That’s pretty much considered rent skimming, which is illegal. Where you are using the rent money from the rental for personal use and not applying it towards the loan. Maybe you can get away with it if you disclose to the renters that the property is in foreclosure, you’re not planning to make any payments, and they’ll have to move out when the bank forecloses on it. Do a search online for “rent skimming” and you can make your own decision on it. As for me, I’d stay away from it.
