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Did you have trouble finding a rental home after/while filing bankruptcy?

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    Did you have trouble finding a rental home after/while filing bankruptcy?

    We are working on the stupid paperwork for the pre-filing counseling right now. However, we have consulted with an attorney already. We will be giving up our house (two mortgages) due to outgrowing the house, owing more than the value of the house and too many repairs needed that we can't afford. Because of this we will need a place to live.

    We will be renting for a while. I will definitely be truthful and let owners/managers know about the impending bankruptcy. The question is how did you handle the credit check, questions about whether you can afford it, etc. I know some will run a credit check, which I can already tell them will look bad.

    We have dogs, one small, one large (65 lbs). Most places will allow a small dog less than 25 pounds but not larger dogs. My husband is not that interested in putting the larger dog in a fenced in yard (if allowed) because he thinks she won't get enough attention. I just don't know how many places will allow a large dog inside a house.

    We are already limiting our search area due to a program that our kids' school offers that both boys are doing that the other four high schools in town don't have. I just don't know how lucky we will be with a limited search area plus the need to allow both dogs inside.

    Besides keeping pets, what other kinds of problems have you run into when going from owning a home to renting? Did you get denied due to the impending or recently discharged bankruptcy? How do you answer the questions on a rental application about current landlord? And previous address question when you have lived in the home almost 12 years?


    We have not actually started applying although we are looking. And I have looked a lot on Craigslist. I was just wondering what kind of problems we will run into when we do start looking for a place. My sister is in a sticky situation right now and may be moving in with us too (and her baby). Has anyone shared a place with a third adult?
    Last edited by ccaplinger; 06-19-2008, 11:58 AM. Reason: Additional comment

    #2
    Rental

    We are in a similar situation. We will be surrending our home; 2 mortgage payments, very upside, although I love my house, doesn't make sense to keep.

    Before filing, we began looking at rent/own properties. Some didn't want to deal with us due to bankruptcy. We actually wanted to get our credit checked before filing hit our credit. A few realtors said that renters look more at steady income versus credit score.

    The person we are beginning to rent/own didn't bother checking our credit due to the fact we told him we are filing/credit isn't that great. The asked for more money down in the beginning instead.
    Filed 5/22/08 341 Meeting 6/19/08 (No Asset) Last Day for Objections 8/19/08 Discharged 8/22/08 Case Closed 8/25/08
    Credit Score 4/28/08--660 6/10/08--528 Credit Score 8/30/08--625

    Comment


      #3
      We are also in a similar situation. Surrendering our house, due to being $40,000 upside down, in a declining neighborhood to boot.

      I had a fortunate situation fall into my lap. A person who works at the same institution that I do mentioned he is going to be renting his house, which happens to be just down the street (4 houses) from my best friend and coworker! He is not asking for a deposit, but the rent he's asking for is about 100 more than our budget for rent. This will be offset by the fact that I will be able to car pool with my coworker (halving my gas), and my husband will be 5 miles away from his work instead of 20.

      We also have 2 small dogs (min pins) that he doesn't have a problem with. The house is small (1200 sqft) but the advantages outweigh the smallness.

      I've also found that craigslist online has alot of rental houses - that might be a good place to start. I only called one management property for apartments (in our desired neighborhood), and they wouldn't consider anyone in bankruptcy. Private rentals seem to be the way to go.

      Good luck!
      Filed Chapter 13 12/20/07
      341 done!!! 2/6/08
      Surrendering house
      Confirmed 7/14/08

      Comment


        #4
        We are also in the same boat. Our bankruptcy has been discharged since Feb. and we didn't foreclose on the house but instead had an investor to short sell it with the bank. We moved in with my in-laws in August so my daughter could get started at the school system we were wanting her to be in (Our old house was in a different school system).

        We are in a small community with 3 little towns in the school system. It has been hard to find a rental. We have looked at quite a few but they are either 2 bedroom and we need a minimum of 3 bedrooms or they are so high in rent. We are trying to keep a budget for a rental payment but it's been hard. I look everyday in the local paper here. I also look on Realtor.com they have a section for rentals. Also what someone said above....Craigslist is a great place to look.
        October 15, 2007 - Filed Chapter 7 :blink:
        November 27, 2007 - 341 Meeting at 10am :clapping:
        January 28, 2008 - Last Day for Objections :yahoo:
        February 6, 2008 - DISCHARGED!!!! :yahoo: :clapping:

        Comment


          #5
          If you haven't filed yet, while are you telling them about it? If you really need a place to move to, I wouldn't tell them, since it hasn't happen yet.

          Many places won't rent to BK people. And some that do, will charge a lot to move in.

          I know some on this board have suggested seeking people that are renting their own homes and not a property management company. Their reasons for this is the credit check. In my area, everyone does a credit check, including those renting their own homes.

          Good luck!!

          Comment


            #6
            I should add that I did not tell the private renter about our bankruptcy, and he is not doing a credit check, which is another advantage. We won't be moving in for a few months, as I want to take advantage of being able to sock away that "rent" money for savings.
            Filed Chapter 13 12/20/07
            341 done!!! 2/6/08
            Surrendering house
            Confirmed 7/14/08

            Comment


              #7
              Ironically, I work for a property management company and we do everything by the book and have a full tenant screen. Having said that, we just approved an application yesterday for a woman just out of Chap. 7 discharged in April and a huge tax lien. She has to pay an increased deposit but the important thing is she and her husband were approved. A week ago another couple who were discharged in 2005 were approved and they are even late on some of their bills. There are real people that work in prop. management, some may be tougher than others but if you are a good person who fell on hard times there is mercy out there.

              Comment


                #8
                ..
                Last edited by SJM; 06-29-2008, 07:25 PM.

                Comment


                  #9
                  We are IN BK and got into the apartments we wanted just fine. Our BK is clearly on our credit. We defaulted on 10 creditors over 2 years ago. We did not have to pay an extra deposit. For us, it was b/c our credit scores are well above their required score (DH's highest FICO is 675).While we are not renting a house, that might even be easier than renting an apartment from a big company.

                  Ours allows pet up to 50 lbs. For me, if it came to not being able to find a home b/c of a pet, I would find the pet a new home.I know it isn't going to be a popular suggestion, but that's reality for me.
                  Last edited by sisterfunkhaus; 06-23-2008, 08:33 AM.
                  Filed 4-21-2008
                  7/16- DISCHARGED!!!!

                  Comment


                    #10
                    we had to get my father-in-law to cosign. we rented a condo, its a year lease--but we will probably be here longer. Anyone have any thought on lease to own etc. We have looked at a couple of homes that are for sale, and not selling. Thought about maybe asking the agents if the owners are interested in this option, once our lease is up in April 09

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                      #11
                      The place we are at and the last place we had didn't do a credit check on us. Actually no application, no verification of employment, no nothing. A friend of DH told us about it after he mentioned that we were looking. His brother also found a place by word of mouth. Again no background checks of any kind. Granted we live in a small town where everyone knows everyone but I'm guessing that the requirements will be a lot lower if you come recommended from someone they know. I would just tell everyone that I am looking for a rental and it is amazing what you will hear about. My landlord and a lot of others around here don't advertise and rely on word of mouth to find renters. And you will already have a good reference also.

                      TS

                      Comment


                        #12
                        I still think it depends on where you are at. I know in my area even with a high score you wouldn't be able to rent with a BK. And even private owners run credit checks. I am sure there are some places around here but you would have to look very hard to find them.


                        Originally posted by sisterfunkhaus View Post
                        We are IN BK and got into the apartments we wanted just fine. Our BK is clearly on our credit. We defaulted on 10 creditors over 2 years ago. We did not have to pay an extra deposit. For us, it was b/c our credit scores are well above their required score (DH's highest FICO is 675).While we are not renting a house, that might even be easier than renting an apartment from a big company.

                        Ours allows pet up to 50 lbs. For me, if it came to not being able to find a home b/c of a pet, I would find the pet a new home.I know it isn't going to be a popular suggestion, but that's reality for me.

                        Comment

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