Homeowners Rent Out Rooms to Stave Off Foreclosure
February 7, 2010By Patrick May, San Jose Mercury News, Calif.
Feb. 7—Reeling from the recession’s one-two-three-punch of job woes, climbing mortgage payments, and evaporating equity, desperate Silicon Valley homeowners are dipping into a nearby income stream to avoid foreclosure:
That bedroom just down the hall.
While renting out a room has been around for years, especially in the South Bay’s Latino neighborhoods, sharing a home in order to save it has become an increasingly popular way to hang on to the front-door keys to the American dream.
