Boy, do I have a deal for you. All what you have to do is have a financial institution foreclosure on your home. This will allow you to stay rent-free for more than sixteen months. Just think what you can do with all that extra money. According to LPS Applied Analytics, the average borrower in the foreclosure process hadn’t made a payment in 492 days as of the end of October 2010. That compares to 382 days a year ago and a low of 244 days in August 2007. In other words, individuals, who default on their mortgages, can reasonably expect to stay in their homes rent-free more than 16 months. In some states, such as New York and Florida, the number is closer to 20 months. And, who said there isn’t any such thing as a “free lunch” in America?
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