Rent a House for $1 a Month

Yes, you read it right! That title says “Rent a House for $1 a Month.” Surely, it’s impossible, you say? Well, think again…and read this all the way through! This could be a lifesaver for you, especially if you have been a victim of the recent layoffs that seem to be happening everywhere. Or even if you are just a struggling single parent, who can’t make rent.

Now, I actually first spotted this information over at EmergencyPrepWire.com As you read the post, it may slowly start to make sense. And you have to read the article. I mean, the title will get your attention, but if you are like me, you will either be skeptical, or expect to have to pay $39.95 for this information. Not true. I made a couple of phone calls, and found out that it can be realistically done. Contact local banks or mortgage brokers, and make the proposals outlined here to them. I talked to a couple of realtors, and a partner in a mortgage company that said that this could legitimately be done; you just have to know who to talk to.

The drawbacks: If the property is sold, you may have to either move or sign a real lease that obligates you to pay the market rent rate (this would be the typical rent amount, that you would pay if you weren’t so smart that you learned how to cut a deal.) Or, if you have multiple pets, lenders aren’t so open to renting to you. (Keep in mind, too, that you may have to agree to give them access to the property without notice. Could be a problem if you have a dog.) Now, the advantages, other than saving big bucks on putting a roof over you head, are that in some areas, your credit may not be so important to these decision makers. For instance, if you are a responsible, hardworking, single mom, who has kept steady employment, taken care of previous properties you have rented, and just not always made your rent payment on time (especially in a low income city like I live in), these people will definitely consider you to watch over their house for while.

Of course, if the lender goes for it on the front end, and you insist upon it, you can lock that dollar a year in place for the full year! Just a reminder, though…read anything you have to sign before you sign it, to make sure that no unexpected expenses are built into your lease. I once met a landlord who included in his lease that tenats were responsible for any and all maintenance…including plumbing, electrical, and damage done to their apartment by such things as floods in neighboring apartments!

So, check it out…this one could be well worth a few minutes of phone calls! One dollar a month for rent can save you a lot of money…single moms spend as much as 60% of their income on rent. What could 60% more extra cash do for you and your kids?