How do I rent a home during a foreclosure?

Question

I live in California.I am trying to rent a home now, knowing that saving my home is impossible. However, I can't seem to find a single person who will accept my application due to a pending foreclosure. I was paying more than double on my mortgage than what people are asking for rent and I still haven't found a place. I have run @ 10 different credit reports due to the different renters requests. I am running out of time and money. Any suggestions?

Answer 1

If you are smart, you do not!

Answer 2

A letter of you good charactor would not mean anything to me, your credit report shows me what I need to know, as a landlord, about your charactor.

Do you or do you not pay your bills?

Remember, to your landlord this is business.   In my case if you do not pay rent MY CHILDREN loose out because I pay my mortgage, every month, on time, no matter what.   Something in the budget has to go.

I could not afford to risk renting to you, as you are finding with most landlords.

You need to apply in areas where the landlord is less likely to have a high mortgage.   If your credit is really bad you need to apply where they rent on a weekly, not monthly basis, as the landlord can evict you sooner so is taking less of a risk with you.

I have 2 renters with foreclosures on their credit.   I can tell you what helped.   For starters they brought their kid when they looked at the place.  I am a softie for families, especially those with dogs as I think I am the only landlord around that not only accepts dogs, but adds dog runs, with shade and water, and I also do not charge for dogs.

The other thing that swayed me to "take a chance" is looking at the credit report line by line.   The ONLY thing wrong was the mortgage, which they paid until it adjusted.   If you have nice shiny credit with this HUGE blow on it point out all of the nice "paid as agreed" on the report to them.   This might show that you it a bad spell, but over all you are an honest person that pays thier own way in the world.

Cute kids don't hurt either.

Answer 3

Stop looking at small landlords who own houses.  They cannot afford to rent to you, you are too much of a danger.  You should be looking at apartments- bigger ones, 50+ units, they can take the risk a bit more.  With the foreclosure in your future, you MUST prove that you pay your utilities!  If you have ANY UTILITIES on your credit report- PAY THE DEBT AND GET THEM OFF THERE!  Any apartment complex will want to see you paying no more than 1/3 of your monthly income on monthly rent- have a job, have your finances in order- start to pay off any debt starting with utilities, and THEN going to whatever you have the highest interest rate on.  Don't worry so much about running the reports.  "Like inquiries" will only hit you once (every three weeks, I believe), so if you are searching for apartments, you'll get dinged for the first credit search, but any other APARTMENT INQUIRIES won't ding you again.  If you have a credit card company look into your credit- that is NOT a "like inquiry", so another 3 points.  So you need to do ALL OF YOUR APARTMENT SEARCHING AT ONCE!  

Trying to rent another home is going to be VERY VERY hard, unless you find a landlord who doesn't check credit, which is next to impossible- and you should worry about those landlords- they aren't caring enough about their own property, may wind up being a slum lord.

Best of luck to you.  

Answer 4

Oh Kelly, I had no idea that you were struggling so much financially.  All I can suggest is that when you fill out your application for a home to rent, you attach a copy of your paycheck as well as your husband's paycheck.  Also, if you get someone to write a letter of recommendation as to your character, it might help.  You might try to appeal to common sense and humanitarian concern.

Answer 5

I am a landlord.  If you explain to me why you weren't able to pay for your home but you can pay me, i will listen to you.  I want tenants who are honest and honorable and will pay me on time. Convince me that you willl.  I will let you rent my place.

Many rental complexes are at 50% occupancy.  Everyone is having money troubles.   Don't allow any more credit checks.  Tell them everything up front.  

Answer 6

You need to be looking on the other side of town.   You are bound to have a part of town where no one cares about your credit or criminal back ground.