Renting a home after a foreclosure?

Question

so my dad unfortunately just went through a foreclosure and is extremely stressed out. he got the sale date in the mail today and has been looking at homes to rent to get his credit up from the foreclosure for a while. i'm trying to help him and was just wondering if anyone had tips when talking to a landlord...should he be up front about the foreclosure or should it be a don't ask don't tell type of thing. i know his credit isn't the best due to some hardships we've faced in the last year but he has a great job and steady income. he's got about $15000 he's saved since the foreclosure process began so i imagine that would help when renting a home. anyways, any tips would be great, we start contacting tomorrow. thank you :)

Answer 1

As a landlord, this is getting to be a greater and greater problem.

I would be up-front about the foreclosure (it's going to be on his credit report anyway).

I would also offer this:  Be willing to pay 90 days of rent in advance..this is about how long it takes the landlord to evict.

This will greatly minimize any risk the landlord has, but only as long as your father can show a stable work history.

If he does not have a stable work history or was out of a job for longer than 60 days, then his future looks grim in the rental world.