Renting a house after CH7

[ifucan]

Sorry if this has been asked before but I just fled 7 last night. My attorney says I can most likely stay in my house for at least 2 more months. How difficult is it to rent a house after going bankrupt?

[wnguyen]

How difficult is it to rent a house after going bankrupt? I hope someone with knowledge and experience can answer that, as I would like to know too. I'm about to rent after my bk is finalized.

[geye]

We started looking for a rental since we're surrendering our home, but we've got plenty of time before we'll need to move-the bank has yet to do anything. We didn't want to wait until last minute and find out we were out of luck.

The single apartment complex we approached (not very many hold large families LOL) told us absolutely not. A private homeowner told us they could care less; they were more concerned with evictions and whether we had sufficient income and a stable job. A small, local property manager told us we would need to pay slightly more and/or have a higher deposit, but they were willing to work with us.

But note we haven't actually signed a lease with anyone. I'm a little concerned that what they say and what they do are two different things.

[bkmystory]

I suggest going with a private owner....I rented a home out to a couple who filed BK...they had no choice..house underwater..however...upon examination of their credit we could see that they paid their credit cards up to right before they filed BK...Problem with many of the apartment complexes they are owned by corporations who don't always have a flexible renting policy...

I suggest hiring a sxperienced realtor.who specializes in renting..already has contacts and who can explain your situation..also do a letter for her to provide to possible landlords explaining briefly of your situation...

You would be surprised.. with over 9 million foreclosures over the past 3 years...landlords are becoming more reasonable to deal with when it comes to these situations..

[bkmystory]

Good luck...PS..the couple who rented my father in laws house are great tenants..

[ryan]

We started looking for a rental since we're surrendering our home, but we've got plenty of time before we'll need to move-the bank has yet to do anything. We didn't want to wait until last minute and find out we were out of luck. The single apartment complex we approached (not very many hold large families LOL) told us absolutely not.

Its fascinating how large apt corporate complexes can not see the bigger picture.

The BK applicant has probably wiped out all or most of their debts. They cannot file again for 8 years. They must be keenly aware of the need to be financially prudent going forward. Yet, big apartment management companies typically turn them down flat?

Too bad apt complexes are not better informed about the risks vs. benefits of getting a BK'ed tenant. When I was a landlord, a BK meant nothing, what mattered was income, and deposits. (and no evictions)

[goneunder]

Absolutely find an owner and be honest. I have found that all agents/property management are instant rejects but telling your story to an owner can go a long way, especially when you tell them your only bill is rent. I just tell them everything up front and that I am looking for a fresh start and am thinking long term and so far am 3 of 3 with being accepted.

[ifucan]

My house went to auction on 9/9 and I filed on 9/15. On 9/13 some guy posted a note on my door stating Fannie Mae now owned
the house. However it listed options for the renters or the borrower. An option is renting the house from Fannie Mae as they do not
want to own another foreclosure. However with BK CH7 will they still consider leasing the house back to me?? Thanks in advance
if anyone knows.

[nc73]

I didn't have any luck with private landlords. They would tell me to call back in a month when I mentioned bankruptcy. Gave up and rented from my Aunt. The economy is not that bad here. No lease agreement and no security deposit!

[ifucan]

NC73.............Where in NC are you?

[nc73]

Sorry NC is my initials I'm in Va