Super Bowl Bailing Out Some Arizona Homeowners Facing Foreclosure?

Conde Nast Portfolio.com reports on how some Arizona homeowners are looking to this Sunday's Super Bowl being played in Glendale, Arizona as a way to help relieve current financial burdens:

• Hoping to stave off foreclosure or losses, some in the Phoenix area are renting out homes for high prices—or whatever they can get. [...] Searching for a bailout, [Phoenix-area homeowner Danielle] Sullivan found a website that promised to rent her house to cash-flush Super Bowl fans. A week later she held a check for $3,200—four nights’ rent for a place twenty miles away from the University of Phoenix stadium in Glendale, Arizona, where the big game will be played Sunday.

Not all property owners have had the same luck, however:

• “It’s not a way out, but a way to stop some of the bleeding,” [investor Mike Roberts] says. Roberts began asking $10,000 for [a] rental, then lowered it to $7,000 with no results. Now, he says, he’ll let it go for a mere $3,500. But by midweek, he hadn’t even had one call on the property. “I can’t sustain too much more. If I don’t get it rented we’re looking at just a few months.”

For more, see Arizona Homeowners Eye Super Bowl as Lifeline.