HOUSTON METRO
Houston homeowners rent out rooms to avoid foreclosure
09:38 AM CDT on Monday, July 28, 2008
HOUSTON – Lawmakers on Capitol Hill recently passed a bill to help avoid foreclosures. The bill allows homeowners to refinance into government-backed loans. But some Houstonians are taking their own steps to prevent foreclosure. They are renting out rooms in their own homes.
John Solis loves his 88-year-old home in the Heights, which is one of Houston’s oldest neighborhoods. But in order to keep his house, he must open it up to renters.
“I was let go from a job. I had to do what I had to do to make ends meet,” said Solis.
Solis is renting out the spare bedroom in his house for $700 a month. He says this money will help cover the mortgage and also rising energy bills. And he's not the only Houstonian with this idea. Craigslist is filled with new posts everyday of people looking to add a tenant to their household.
Nationally, experts say rooms for rent have spiked. In some cities, they've more than doubled. But Claire Hudson says finding the right roommate isn't easy. She interviewed 20 people before choosing her last one.
“I try to get people to call me, because I feel like you can tell more about that person if you're able to ask questions,” said Hudson.
Renting out a room isn't an option for every homeowner. Many neighborhoods, especially newer ones, have deed restrictions against the practice. But for Solis, it’s an option he has no choice but to consider.
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