Colli Real Estate

How do I rent a home during a foreclosure?

I live in California.I am trying to rent a home now, knowing that saving my home is impossible. However, I can’t seem to find a single person who will accept my application due to a pending foreclosure. I was paying more than double on my mortgage than what people are asking for rent and I still haven’t found a place. I have run @ 10 different credit reports due to the different renters requests. I am running out of time and money. Any suggestions?
I unfortunately can’t look at a other part of town due to my son’s school. He is in a charter school where they don’t take transfers and he has already started his school year.

A letter of you good charactor would not mean anything to me, your credit report shows me what I need to know, as a landlord, about your charactor.

Do you or do you not pay your bills?

Remember, to your landlord this is business. In my case if you do not pay rent MY CHILDREN loose out because I pay my mortgage, every month, on time, no matter what. Something in the budget has to go.

I could not afford to risk renting to you, as you are finding with most landlords.

You need to apply in areas where the landlord is less likely to have a high mortgage. If your credit is really bad you need to apply where they rent on a weekly, not monthly basis, as the landlord can evict you sooner so is taking less of a risk with you.

I have 2 renters with foreclosures on their credit. I can tell you what helped. For starters they brought their kid when they looked at the place. I am a softie for families, especially those with dogs as I think I am the only landlord around that not only accepts dogs, but adds dog runs, with shade and water, and I also do not charge for dogs.

The other thing that swayed me to “take a chance” is looking at the credit report line by line. The ONLY thing wrong was the mortgage, which they paid until it adjusted. If you have nice shiny credit with this HUGE blow on it point out all of the nice “paid as agreed” on the report to them. This might show that you it a bad spell, but over all you are an honest person that pays thier own way in the world.

Cute kids don’t hurt either.

September 2009 California Foreclosure Report

Foreclosure: $10.81 Foreclosure:

Foreclosure $13.66 Buy and sell [Foreclosure] at great prices.

Foreclosed Dreams: A Homeowner’s Guide to Foreclosure $17.99 The indispensable book for homeowners facing foreclosure. Topics include short sales, deeds in lieu, negotiating with lender, mechanics of foreclosure, impact on credit, and applicability of bankruptcy. The foreclosure laws of every state are covered. This timely book is a guide for homeowners seeking information about foreclosure. Mr. Thompson says, Many books and websites are dedicated to real estate investors seeking to make money on foreclosed homes. Those books teach investors how to make money off your unfortunate circumstances, but don’t address your situation. I wrote Foreclosed Dreams specifically for the delinquent homeowner who needs to know what options are available. Thompson is a California Attorney and Real Estate Broker. He holds degrees from Willamette and Stanford Universities. Visit Thompson’s blog at http: //www.foreclosurematters.info.

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