Where Will We Live :(

[mommyto3+1]

I have 4 small kids and we are more than likely NOT going to be able to keep our house due to my husband's company going under.

Where are we going to be able to live? I looked in the after discharge section and it seems after 2 to 3 years a mortgage is possible but in the mean time where the heck will we go?? I am so tired of crying about this. I feel like I am in a nightmare. We live in such a nice area with awesome schools...

[keepmine]

You rent for awhile. That's not the end of the world.

[justplaintired]

You are a little overwhelmed right now, step back and you will realize renting is your only option for awhile. Nothing wrong with renting, no property taxes and renters insurance is alot cheaper then home owners insurance. You might be surprised you will probably be able to save a little for a down payment on a house.

[Help!]

I feel for you. It is really hard to move out of your home and the first thing you worry about is how your kids will handle it. It's been six months since we left ours, and at a time when DH and I could barely function the kids were EXCITED! They thought it was the coolest thing to move. We ended up renting a house that is just as nice as the one we left and it costs us almost $1K a month less.

There are many homes for rent out there and quite a few of them are really nice homes. Don't be afraid to rent! I think part of the reason so many of us can't make ends meet right now is because having a mortgage is the norm. I always felt like if we couldn't say we "owned" our own home we were somehow financial failures. Quite the opposite is true right now - renting in this economy is just plain smart! You will feel so much better when that gigantic financial burden is off your shoulders. Your kids won't know the difference between renting and "owning" a home - but they will notice the difference in you when you're no longer crying your eyes out.

[Cali]

You can find a house, apartment, condo to rent.

[mommyto3+1]

Thank you Help!

Where can I look for places to rent???

[Martha13]

Hang in there, you and your family will be fine at the end of all this. Alot of us are going thru the same thing. Just like Help said, the kids will probably be excited..I know mine are I have been searching on Cragislist, and also online with my local paper. I've also been checking Oodle, and sometimes I just google the name of my city and rentals, and see what comes up. I've noticed lately ALOT of rental homes saying things to the effect of "we will work with bankruptcy and foreclosure situations"....which is a huge relief, because at least all your cards are on the table going in. Good luck!

[justplaintired]

Our local paper list rentals everyday. Also some realtors will have listings for rentals. Even if you stop paying on your mortgage you don't have to move immediately. So take your time and find a place that suits you. This will also give you time to save for your deposit.

Hang in there and I'm sure you'll do fine.

[Phillymanhere]

The coolest place to find ads for places to rent (and even to own) is Craigslist ..... Craigslist has put a huge dent in newspaper ad revenue ....It's free and is more and more considered a neutral public forum; that's how big it has gotten.

go to www.craigslist.org ... click on your state, find your region/city, etc ...Then do a search on the top left for apartments to rent, houses to rent, etc ....

Look for the yellow box on the left and hit the drop menu below it for your search ....there are thousands of things put up each day. For free!!!! That's why it's so popular.

Almost everyone I know found their apartments through craigslist.

Good luck.

[b_girl]

I always found the best houses by using a realtor. Often, these houses aren't advertised, so there isn't a huge rush on them like rentals listed in the newspaper. Good luck! I always viewed renting as an adventure, a way to learn about new places (and new houses) without having to permanently commit if I didn't want to. When the time is right, you'll find a home you can call your own again.

[mommyto3+1]

Thank you everyone.

I was just talking with DH and he feels if we do rent we will never be able to buy a home again since I credit will be destroyed and that renting is just throwing money out the window. Owning is an investment. However I explained that our house is too much for us financially and I just want this weight lifted.

[Flamingo]

Thank you Help!

Where can I look for places to rent???

Since you stated you are happy in the area in which you now live, does your town/municipality/county, etc. have an area paper? Check out the rental sections in the back of that. Or call one of the realtors in your town/city and they should have listings of rentals available in your area. Someone already mentioned your newspaper, but there are other smaller newspapers around for certain small towns/counties, etc. that are chock full of area stuff. Do you have any friends/family in the area that now rent? Get the name of their landlord if they are happy with their rental.

Now is the time to be proactive and go with the situation as it happens. Someday it will be all behind you. It's just one of those life events that happen now and then.

[mommyto3+1]

I just looked on Craigslist and found an AWESOME home for a decent monthly rent. Should I even be looking now am I just jumping the gun so to speak?

http://detroit.craigslist.org/apa/738135729.html

Here it is...

[b_girl]

Thank you everyone.

I was just talking with DH and he feels if we do rent we will never be able to buy a home again since I credit will be destroyed and that renting is just throwing money out the window. Owning is an investment. However I explained that our house is too much for us financially and I just want this weight lifted.

My husband feels the same way, so we're staying in our home (against my better judgement) but the payment is super low, so it doesn't hurt our wallet. I know of 2 individuals in our area who declared bankruptcy and were able to buy super great homes within 2 years of their discharges, so take heart....there is life after bankruptcy.

[Joe Farmer]

Save the money you are not making your mortgage with.

Look for private houses for rent through individuals, and offer them 3-6 months rent up front. Anyone will be glad to rent to you- there are scores of desperate owners who are in the same boat of losing their own home and their rentals, so that's my advice. However- be wary of your state's BK exemptions- this state for example has a limit of $1500 in prepiad rent, so if I give the landlord more than that before I file BK, the court would go after it as non-exempt.