A recent study found that 47% of foreclosed properties are still occupied because banks prefer this to prevent vandalism and maintain property value. Occupants sometimes avoid payments due to bank errors, but this isn't legal. There are legal ways to stay post-foreclosure, including court actions, move-out bonuses, or renting back from the bank.

If you're facing foreclosure, you can avoid losing your home by contacting your bank to negotiate payments, selling your house quickly through a direct sale or short sale, or declaring bankruptcy to halt foreclosure proceedings. These options can help manage or clear your mortgage obligations and save your credit from severe damage.