Live Free With No Rent Or House Payment?
A member of our family is losing their home soon and their situation gave me an idea. There may be a little hope for those in similar situations if my guess is right.
Ok, real quick; they don’t make a lot of money. They haven’t made a house payment in over a year and the bank just listed their home for sale. BUT, they haven’t been officially foreclosed on or evicted yet.
The bank said they could continue to live there, without making payments, until the house sold. Even then they will have plenty of time to move out – up to six months!
Why would the bank be so generous? I am sure it’s in the bank’s best interest. I know the banks have taken it hard and dry lately with the ‘revenge’ damage and vandalism involved with evictions and vacant homes. I imagine it’s better to keep someone living there, even free, which will take care of the place. That way the house is less likely to be broken into and little things like the utilities remaining on must be a big plus for the banks.
It might sound farfetched but what if people in that position made a proposal to the banks that they would ‘house sit’ on foreclosed and vacant property? I don’t know if it’s been done before but it sounds like a win-win for both the family and the bank.
It would be rough moving every year, or even more often, but that’s a great trade off – living somewhere free.
Could this be a huge business idea for the right person? Imagine a professional ‘house sitting’ service with a client list full of large banks? Am I crazy or just a freakin’ genius?