Too Early to Rent an Apartment?

[dasmom]

I just applied for an apartment in a complex. The apartment had been occupied by one tenant for over 20 years, so the management company is renovating everything down to the floors and the lighting and putting in new appliances in the kitchen and a washer and dryer. I have the income to pay the rent, but they asked for a co-signer because of my credit score.

Although I didn't feel good about it I did ask one of my parents to co-sign and they did complete the paperwork. Parents have excellent credit scores. Just waiting for the approval now, but rental agent was pretty confident about the approval.

Just got the call with the approval for the apartment!

I told them about the pending foreclosure and pending bankruptcy, but they seemed happy about my income level and about my ability to pay the rent. I guess apartment complexes have to keep their occupancy rates up.

My question is: it will be a few months before the Chapter 7 discharges, but this apartment will be ready by 12/15. I have a child in school and this apartment complex is in the same school district. Does it make sense to move prior to the discharge even though I won't be able to save additional money waiting for the foreclosure?

Note: had a bad attorney to defend the foreclosure and the only thing stopping the summary judgement is mandated mediation and the automatic stay from the Chapter 7.

Thanks for your ideas and comments.

dasmom

[dasmom]

More info:

If I move I am automatically terminated from the mediation program and the bank will need to lift the automatic stay to finish the foreclosure.

Thinking of moving during the December school vacation.

What do you think?

[free2breathe]

I think that sounds like a good idea. You know you have this place, you've already got that groundwork laid. I'd be reluctant to pass it up, especially since it's in the same school district. If you wait, you may not find something that is as good a fit for you.

[dasmom]

free2breathe

Thanks for your response. I'm feeling relieved and a little excited about a fresh start.

[Nicollette]

Congratulations on getting your approval. I've been wanting to move for a couple of months now out of my apartment complex because I dont really feel safe in this area anymore. I've been calling around to apartment complexes, but of course, the ones I've called so far said I have to be discharged before they'll rent to me Sometimes I dont know if I should just wait it out, or just keep calling around, hoping to find a complex that will rent to me in an active 13

[dasmom]

Nicollette,

Thanks for your good wishes. I guess it helped that my Chapter 7 should be discharged in a few months.

I see that you have 8 months to go in your plan. Are there any multi-family homes that you could consider? Some of those landlords don't do credit checks.