Renting a Home - Question about Credit

[darkoth]

Hey all, My wife and I were discharged from chapter 7 in March. We did not fall behind on our mortgage payments but, we did include the house and second mortgage in our BK and did no reaffirm. We knew that sooner or later the house would kill us (its costing us 56% of our income).

We are still living in the house and have let the house "go" and are searching for a new home to rent. We did meet with a landlord and I explained to him that we do have a BK on our credit, but are willing to give him a larger security deposit if we can.

Basically he told me that he understands our situation and not to worry about the credit score. He said that the only thing that matters is that we don't have any evictions or criminal records on our credit history or background.
Also he said that the landlord may require a larger security deposit but that's it.

I've had good "rental" history with apartments in my background, but I am not sure if my house going into BK would count against me. He directly used the word "evictions" so I'm thinking I should be ok. What do you guys think?

Thanks!

[lrprn]

I've had good "rental" history with apartments in my background, but I am not sure if my house going into BK would count against me. He directly used the word "evictions" so I'm thinking I should be ok. What do you guys think?

The way you've described it, walking away because you can't afford the house any longer is way different than being forcibly evicted for rent non-payment. Since you are inquiring about a rental, the landlord is probably assuming you gave up the house in your bankruptcy anyway.

Congratulations for having the courage to do what you had to do to truly get a fresh financial start. Good luck - hope everything works out for you!