Re: can you rent right after a foreclosure?

Posted by ForeclosureFish on October 17, 2006 at 16:10:44:
In Reply to: can you rent right after a foreclosure?
Posted by Laurie on October 14, 2006 at 16:56:15:You should be able to find a landlord who will understand your situation and will rent to you. Definitely expect to have to pay the first and last month's rent, as well as a security deposit.

You could also try saving up for 6-12 months of rent payments and paying it all at once and requesting the landlord not check your credit. That way, you can remain more private, pay your rent in advance for a long period of time, and avoid having one more inquiry on your credit record.

But since you'll be renting for at least a couple of years after a foreclosure, try to rebuild your credit history and save as much as possible. Especially save up a large down payment if you plan on purchasing a home again. That way, you'll build some equity in your home right away, show mortgage companies that you are financially responsible, and you will have more options if you face another hardship.

[Edited on 10-18] Removed URL