Has anyone moved out before the foreclosure process is finished?

[espo1357]

This is a myth. You can find a rental quite easily with bad credit. The most you'll have to do is pay another month deposit. That's why people rent, because they aren't able to buy a home, due to bad credit.

People rent because they need shelter. It has nothing to do with not being able to buy a home. Renting is so much smarter, because it gives you flexibility to move at anytime, you don't have the insurance or taxes, and no upkeep when repairs are needed.

How I got suckered into buying a home is something I will never forget, and learn from it everyday. Big mistake.

However, now is the time to buy your end home, if you can afford it (Marc Faber, 2011, smart man).

[denisec]

People rent for all kinds of reasons, one is because they can't yet buy a home. Yes, there are times when renting is much better overall, you do the math. It depends on what your goals are. It's not the investment it's cracked up to be with all the expenses that go into home ownership. The other thing that is a factor is the mortgage deduction. With this, you might do a bit better than breaking even on a home in an average market. The average appreciation for a home historically has been around 3% a year.