Is it really hard to rent after bankruptcy and foreclosure?

[leo_075]

My husband and I are doing our best to complete a short sale on our home and avoid a foreclosure so that we can move in with family in California for a year to utilize free care for our children while we both work full time to keep up with our debt. We are concerned that it's not going to go through, but are wondering if it all comes crashing down on us, we will eventually move back to Florida where we're from, but are concerned that we won't be able to find a rental because of our bankruptcy and foreclosure (if it comes down to that). How can you successfully rent a decent place without being banned except ghettos??

Thanks!

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[BassBoy]

From what I have learned about renting after BK, is every place has a different "rule" about it. We first started looking at apartments because there were a lot available. A couple of places wanted us to be discharged, one wanted us to be discharged for a year and another wanted us discharged for 2 years. The few places that would take an application did want an extra month or two upfront though.

When we decided that an apartment would not be practical because we have 2 young boys, we started looking at homes to rent. For the most part, the homeowners didn't have any "rule" about being discharged and/or for how long, but we did get a couple different reactions......the biggest one was that awkward moment of silence.

My best advice is call around and explain your situation. Yes, some will flat out tell you no and others may be willing to accept you. It's really hard to say where one can go and get approved without the BK hindering your approval.

[freshstart06]

We found a home with no credit check. There are a lot of home out there like that. As long as you have a job they use that as your credit.

[leo_075]

That's good to know. I guess it will just take a lot of leg work if it comes down to that....

Much appreciated!
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[leo_075]

From what I have learned about renting after BK, is every place has a different "rule" about it. We first started looking at apartments because there were a lot available. A couple of places wanted us to be discharged, one wanted us to be discharged for a year and another wanted us discharged for 2 years. The few places that would take an application did want an extra month or two upfront though.

When we decided that an apartment would not be practical because we have 2 young boys, we started looking at homes to rent. For the most part, the homeowners didn't have any "rule" about being discharged and/or for how long, but we did get a couple different reactions......the biggest one was that awkward moment of silence.

My best advice is call around and explain your situation. Yes, some will flat out tell you no and others may be willing to accept you. It's really hard to say where one can go and get approved without the BK hindering your approval.

Were you able to find a rental?

[DisneyGirl]

When we relocated to CA we looked into renting apartments and houses through management agencies. They all had different rules. One said you need a score of 620 or better. Another said we had to be at least 2 years post BK. We met all that but through some stroke of luck we found a private homeowner that was renting out his 2nd house. He said to us (regarding the credit check), "I've worked with the public my whole life and I know good people when I see them. We won't bother with a credit check." Hubby and I about died! I'm sure he would have still rented to us either way since we never paid our rent late back in WA.

So you may not have to deal with to much if you try to rent from someone privately if you can.

Good luck!

[whywhywhy]

Craigslist is great for finding those places to rent that are just owned by an individual who just wants to meet you first

[sammieky]

Hi Leo - my bankruptcy will be filed within the next 3 weeks. I am letting the house I own go back (had the builder from hell and the mtg company from hell AMERIQUEST). I have rented a home in the meantime - I dealt with a realtor and her suggestion was to write a letter to accompany my application. Which is what I did. It explained how I got into the situation I am in and what I was doing to fix it. Maybe I just got a sympathetic landlord - but I found it extremely easy.

I'm sure others didn't have it so easy - but you never know until you try. Honesty is best.

SAMMIE

[leo_075]

Those are GREAT ideas. Thank you so much. Makes me feel a lot better if we do have to file bankruptcy.

[BassBoy]

From what I have learned about renting after BK, is every place has a different "rule" about it. We first started looking at apartments because there were a lot available. A couple of places wanted us to be discharged, one wanted us to be discharged for a year and another wanted us discharged for 2 years. The few places that would take an application did want an extra month or two upfront though.

When we decided that an apartment would not be practical because we have 2 young boys, we started looking at homes to rent. For the most part, the homeowners didn't have any "rule" about being discharged and/or for how long, but we did get a couple different reactions......the biggest one was that awkward moment of silence.

My best advice is call around and explain your situation. Yes, some will flat out tell you no and others may be willing to accept you. It's really hard to say where one can go and get approved without the BK hindering your approval.

Were you able to find a rental?

Yes, we did. We are renting a 3 bedroom, 1.5 bath home with a full basement. It is a duplex and the garages seperate the 2 units. It is a very nice place. We got lucky however. The homeowner does not do credit checks and was easy to work with. He's a very very nice person and takes care of his properties very maticulously. I'm also allowed to make repairs and it is deducted from the rent. For example, we needed new countertops and the homeowner allowed to me to install them. He even let me pay a friend to help out as well.

As I said, when you call about a place, be upfront and tell them about your situation.

Best of luck to you.