Life after foreclosure -- rental property help needed...

[goblue]

We are considering letting our house go with our Ch7. But, my biggest fear is not finding a suitable rental home that will accept our credit and my 3 dogs.

What are the best resources to check how easy/hard it will be in my area? Do I check with a realtor to see what the market is doing now? Is there another agency that deals strictly with rental properties? (Don't want an apartment - looking for a home). Do I just call from classified in local papers and ask around -- even though I wouldn't be moving until summer?

Also, how long are rental agreements usually valid? We have kids in middle and elementary school so we'd be looking for something a little more stable for them (if that's even possible). I worry that we'll get a house and several months later they will want to sell, thus displacing us again. Is there a way to check to ensure the owner is current on mortgage/taxes before you move in?

I was sure we were keeping our home, but I think it might better to move on and get a totally fresh start. This is all a new way of thinking for me and I'm trying to work it all out in my head first!

THANKS!

[NoMoreCards]

I would recommend seeing what is available to rent in the area you want to live. Because you want a house, look at house values and then compare the cost of renting a house vs. keeping the one you have and just doing a ride-thru. I have seen where it is cheaper to do the ride-through over renting. I would check with realtors, and the classifieds to see what is available.

Make sure you consider utility payments as well. One house with natural gas heat might be much cheaper than a similar home with electric or propane heat.

Once you get your numbers, you can compare apples to apples and at least you will know for sure what you are looking at.

Also, some landlords might be willing to do a lease agreement longer than the typical 1 year, but you would have to ask up front.

Best of luck to you.