Posted on: 12th Sep, 2011 09:52 pm
Hi there, our bankruptcy was discharged in the end of 2009. Our FICO scores range from 670 EXP, 675 TU and 685 EQ. We have been able to get new credit and made all payments. We never reaffirmed the mortgage and now we are planning to short sell the home. After short sale, I have decided to rent a property for sometime. Shall we face issues with renting as bankruptcy is mentioned in my credit report?
Hi J Garret!
Welcome to forums!
Well... you have mentioned that the bankruptcy filing has been discharged in the year 2009. It is about 2 years since you filed for bankruptcy. In such a situation, I don't think the landlord will create any problems for you. However, he will definitely look into the fact whether or not you will be able to pay off the rental payments on time.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Well... you have mentioned that the bankruptcy filing has been discharged in the year 2009. It is about 2 years since you filed for bankruptcy. In such a situation, I don't think the landlord will create any problems for you. However, he will definitely look into the fact whether or not you will be able to pay off the rental payments on time.
Feel free to ask if you've further queries.
Sussane
The landlord is completley independent of each other. One home, or apartment may be more strict in their approval then the next one. Most landlords understand the difficulty of the economy and look past the foreclosures and BKS. The larger APT complexes usually require more decent credit. But dont be discouraged, explain your self, and you will find that you will have no trouble finding a new home. Good luck
Beware of this situation: You can't pay your mortgage and face foreclosure. A "lender" contacts you, offering help. First, the lender requires you deed the property to him, claiming this is a temporary safety measure to prevent foreclosure. Once the lender has the deed, he owns your property. He can borrow against it or sell it to someone else. The lender can treat you as a tenant, using the mortgage payments as rent. Once you default on the payments, the lender can evict you from your own home.
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