Trying to make the best of a bad situation, real estate agents are banding together to find a new use for the millions of foreclosed homes sitting empty across the nation: renting them out as cheap motels. The new concept, unofficially dubbed FB&B (foreclosed bed and breakfast), has caught on quickly among savvy travelers who want to save big money on lodging expenses.

Travel agents, and most of the major travel booking sites including Orbitz, Expedia and Priceline, have pounced on the exploding demand for these makeshift FB&B sites, showing spectacular rates on thousands of locations.

“You wanna go to Detroit and stay on the cheap?,” suggested Trina Decker, an Orlando-based travel agent. “We can get you into a decent 5 bedroom home close to downtown for just under $75 a night. Ditto for Cleveland, Baltimore, Philadelphia and Buffalo. You can’t beat these prices. And many of the homes are along bus lines too, so you can quickly get to those early morning meetings!”

Realtors and mortgage lenders are enjoying the new revenue stream from the unused housing, with rental fees offsetting taxes and maintenance expenses of the idled properties.

“It beats letting the crack addicts, prostitutes and homeless people move in,” said Mark Adderly, a real estate broker in St. Louis. “And business travelers generally don’t strip out the copper wiring.”

While the amenities will vary, most FB&Bs offer features such as portable kerosene heaters, power generators, running water, cable TV (if it hasn’t been shut off already), and deadbolts on doors and windows. True to bed & breakfast tradition, guests typically receive a free continental breakfast of a box of Dunkin’ Donuts dropped off on the doorstep each morning.

The response to the FB&Bs has been overwhelming.

“We can barely keep up with the demand…get ‘em while you can,” added Decker.