Renting out pre foreclosures

[Ron Hensley]

Has anyone else ran across someone that locates empty pre-foreclosures, pays the owner to deed the home to them and then rents it out until it forecloses? All the while pocketing the rents.

This to me seems at the least unethical, if not borderline on illegal. Is there not a clause in most mortgages that the Lender is entitled to rents when in default?

Just curious to see how many others are running across this.