An interesting phenomenon has taken place in certain parts of the country.  If you find an area with numerous foreclosures and vacant properties, there are squatters.  It’s not the fact that there are squatters that is so interesting, however.  It’s the fact that the banks are aware of them and in no hurry to evict them.  Ultimately, a home is better cared for if it is occupied: the lawn is mowed, if there are plumbing or electrical issues, they’d be fixed, and occupants should alleviate the threat of vandals and thieves stealing cabinets, etc.

What’s important to note, though, is that squatters have no rights whatsoever when a home is sold.  If a bonafide renter lives in the home when it is foreclosed, the new owner must respect and honor the terms of the lease.  If it’s a squatter, zilch.

Final caveat – if you do rent, be sure you’re entering into a rent or lease agreement with the real owner or spokesperson of the property.  Don’t let a scam thief take advantage of you.