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Ezlease's Blog

By Ezlease | Real Estate Pro in Long Beach, CA
  • Renting after Foreclosure? We're Different. Rental Guarantee Service www.ezleaserentals.com

    Posted Under: General Area in Houston, Crime & Safety in Houston, Foreclosure in Houston, Credit Score in Houston  |  July 11, 2011 3:17 PM  |  1,030 views  |  2 comments

    Everyone deserves a second chance and with ezlease you get just that...

    Why rent to someone who's filed bankruptcy?

    You're in the property management business to make money, not to provide charity or to give someone a second chance. However, there are many reasons why people with blemished credit can make great tenants.

    Reason #1: The recently bankrupt can be financially sound

    Most bankruptcies are caused by one of three things: Medical bills, job loss and divorce. These are often one time events. Credit scores reflect what happened in the past. By considering the individual circumstances of potential tenants, you can be fairly confident whether their financial future is stable. In addition, Chapter 7 bankruptcies eliminate most debt, and Chapter 13 bankruptcies make them more manageable. This means someone with a bankruptcy may very well be in better financial shape than someone with a great credit score who is drowning in debt.

    Reason #2: The recently bankrupt can't file bankruptcy again

    Once someone has filed bankruptcy, they can't file again for years. On the other hand, someone with clean credit can run into financial difficulty and then file bankruptcy, wiping out their debt including back rent. With the recently bankrupt, you'll always have a legal recourse for rent repayment that can't be wiped out again in bankruptcy courts.

    Reason #3: You can reduce your risk

    Potential tenants with blemished credit understand that their options are limited. They may be willing to consider higher security deposits, higher rents or other concessions. All of these reduce your risk.

    Reason #4: The recently bankrupt are an underserved market

    Many large properties base their decisions solely on credit scores. This restricts their pool of potential tenants. By considering all applicants regardless of their credit past, you can find some great tenants who have limited housing options. You may be able to rent your properties quicker and your tenants are less likely to leave.

    Reason #5: You can always say no

    It's always your decision. If you are uncomfortable with a particular applicant's current financial situation, you can choose not to rent to them. But if you are willing to learn their story and dig deeper in to their current situation, you may just find some fantastic tenants
  • Renting with Bad Credit. We can Help!

    Posted Under: General Area in Houston, Financing in Houston, For Rent in Houston, Credit Score in Houston  |  March 21, 2011 2:01 PM  |  1,053 views  |  No comments

    Instructions

    things you'll need:

    • Clothes
    • Credit Reports
    • Stationery
    • Writing Pens
      • 1

        Obtain a copy of your credit report so that you know exactly what your credit problems are.

      • 2

        Write a simple letter of explanation for all negative remarks in your file. Landlords may be more willing to rent to you if they understand your financial background.

      • 3

        Offer a larger deposit. Landlords may be willing to assume more risk if they get more money up front.

      • 4

        Offer to increase the amount of rent you will pay.

      • 5

        Find a co-signer for your lease.

      • 6

        Offer to do work to improve the property's condition or appearance.

      • 7

        Provide a list of references who can vouch for your credibility.

      • 8

        Offer to allow landlords to see the property you are currently living in so they can be assured you'll take equally good of care of their property. (They probably won't take you up on this, but it leaves a good impression.)

    • These are all great tips.
  • Renting after Bankruptcy!

    Posted Under: General Area in Houston, Foreclosure in Houston  |  February 8, 2011 4:18 PM  |  316 views  |  1 comment
    Try this:

    A downside risk of losing your home to foreclosure is the possibility that you may not be able to find suitable rental housing after the foreclosure sale has been completed and you are forced to vacate the house. This risk is usually an indirect result of the damage to your FICO credit score and the negative information contained in your credit report that appears as a consequence of the a foreclosure and possible bankruptcy filing that was done to stop the foreclosure. With a mapped strategy, this damage can be minimized, through a carefully executed plan designed to convince potential landlords that today you are a better credit risk as the result of no longer being responsible for making a mortgage payment that was greater than you could afford.

    Our Company is designed to give everyone a second chance despite past: Broken Leases, Foreclosures, and Bankruptcies. We are a rental guarantee service. To qualify you must have a job. Once you are signed up each and every month we report to the credit bureaus to help re-establish their credit. We also have a credit repair company that will take it even further. If no one sets up a program to help then folks will never ever get out of this situation. We have seen that when you have bad credit you’re limited to where you are allowed to live with your family. With our service you can live where you want not where you have to.  You can go to www.ez-lease.net. The economy has effected allot of customers but this is a way to help them get their lives in order again. "You can have everything in life that you want if you just give enough other people what they want."
    — Zig Ziglar
  • Renting After Foreclosure!

    Posted Under: General Area in Houston Suburban Heights, Foreclosure in Houston Suburban Heights  |  February 8, 2011 4:13 PM  |  853 views  |  1 comment

    Losing the home due to foreclosure will always be very difficult emotionally.But instead of worrying about your lost home,it is better to look for the future plans.One thing you would definitely need to think about is renting after foreclosure.Some people have the habit of getting a second mortgage instead of getting the house rent.But this is not a good idea and you are getting the mortgage at a wrong time.

    second mortgage foreclosed house:

    As i said earlier,some people get the second mortgage immediately without too much thought.Since the credit has been damaged,the lender will offer the loan at a very high interest rate.This will cause immaculate pressure on you as time goes on.So you must always give a second thought on things like these.Getting the credit counselling will also be a better option.

    difficult to rent after foreclosure?

    "So is it very difficult to get a house for rent after going through the foreclosure process?"

    Yes definitely.It will be hard to get the home after consoling the landlord and letting them know that you are indeed capable of paying the rent without fail.But there are solutions to such people to get the rental house easily.Here are some solutions :

    hoOur Company is designed to give everyone a second chance despite past: Broken Leases, Foreclosures, and Bankruptcies. We are a rental guarantee service. To qualify you must have a job. Once you are signed up each and every month we report to the credit bureaus to help re-establish their credit. We also have a credit repair company that will take it even further. If no one sets up a program to help then folks will never ever get out of this situation. We have seen that when you have bad credit you’re limited to where you are allowed to live with your family. With our service you can live where you want not where you have to.  You can go to www.ez-lease.net. The economy has effected allot of customers but this is a way to help them get their lives in order again. "You can have everything in life that you want if you just give enough other people what they want."
    — Zig Ziglar
    w can i rent a house after foreclosure??


  • Foreclosure Tips! Ezlease We can Help!

    Posted Under: General Area in Houston, Foreclosure in Houston  |  February 1, 2011 6:04 AM  |  892 views  |  1 comment

    If you’re struggling to stay afloat – possibly because a real estate agent encouraged you to buy more house than you could afford, or because you got funneled into a toxic mortgage loan that has ballooned exponentially on you – consider the following tips, and also check out the helpful resources listed at the end of this column.

    1. Face the problem head-on. Have you fallen into the habit of throwing all the ominous-looking mail you’re receiving from your mortgage lender into a big pile – and then not opening any of it? If so, snap out of this state of denial pronto! By responding to your mail quickly, you could be directed toward viable foreclosure-prevention options. That’s a good thing, not a bad thing. Credit and housing counselors say they’re approached all too often by people who waited months to stop ignoring the problem and get help. By that point, though, many of them had already received foreclosure notices in the mail.

    2. Contact your lender and explain your situation. This step may scare you to death – but do it anyway. Here’s why: Depending on your circumstances, your lender may reduce your interest rate, lower your monthly payment to make it more affordable for you, or agree to a repayment plan for any payments you’ve missed. This won’t happen in every case, mind you – but you stand a better chance of getting this kind of a response from your lender if you reach out sooner rather than later. Finding the correct lender to call may prove to be your biggest challenge, though. Mortgage loans often get sold again and again, so it may require plenty of perseverance on your part to figure out who owns your loan. Start the process by calling the company that receives your mortgage payment.

    3. Understand your mortgage rights. As unappealing as this task may seem, dig out that pile of loan documents you received when you bought your home. Start scanning them for the answer to this question: What can your lender do to you if you’re unable to make your mortgage payments? Being armed with this information will equip you to have smart conversations with your lender about your situation. You also need to learn about the specific foreclosure laws and time frames in your state. Contact your state government’s housing office or department to find out which rules apply where you live. To track down the correct agency, do a quick Internet search for the name of your state along with the words “state government housing office.”

    4. Consider selling your home. This may be one of the most painful decisions you’ll ever make, but it could be the right decision if you were sold more house than you can afford. Selling your home on your own terms sure beats having your home taken away from you, and money from the sale could cover your mortgage debt and selling costs in full. Even if it takes you months to sell your home, the decision to sell could relieve your stress levels immediately. Here’s why: Your lender likely will suspend foreclosure proceedings once your home is on the market, thus preserving your credit rating. In fact, your lender may even allow you to stop making mortgage payments until the house is sold.

    5. Explore the “short sale” or “deed in lieu of foreclosure” options. Let’s say your house can only be sold for a dollar amount that’s less than the amount you still owe on it. If that’s the case, your lender may agree to a “short sale” – that is, it will take what you can get for the house and forgive the rest of the balance owed. Or, if you simply can’t find anyone who wants to buy your home, your lender may agree to a “deed in lieu of foreclosure.” That means you would hand the deed to your home over to your lender voluntarily, and your lender would cancel out your remaining debt. This would be less damaging to your credit rating than having your home taken away from you in a foreclosure. In either scenario, it would be a good idea to get help from a lawyer, accountant, housing counselor or other adviser who is familiar with these approaches.

    6. Don’t give your money away to the wrong people. You very well may be approached by foreclosure-prevention companies that will offer to negotiate with your lender on your behalf. Don’t take the bait! In the best-case scenario, the company will be a legitimate business but will charge thousands of dollars for help you could get for free. In the worst-case scenario, you could end up unwittingly signing over your property’s title to a fraudulent company in a “foreclosure rescue” scam.

    7. Seek out legitimate help. Considering how many con artists have emerged during the mortgage meltdown, it can be difficult to know where to turn. Here are some options to try that aren’t scams:

    • You can contact a housing counselor who is approved by the U.S. Department of Housing and Urban Development by calling (800) 569-4287 or visiting this site. HUD-approved counselors can give you free or low-cost guidance and even represent you in negotiations with your lender.
    • You also could be directed to HUD-approved counselors and free help via the Homeownership Preservation Foundation by calling (888) 995-HOPE.
    • Another option is to get help from a housing counselor affiliated with the National Foundation for Credit Counseling by calling (866) 557-2227 or visiting this site.

    8. Set financial priorities that fit your current circumstances. When you’re feeling absolutely overwhelmed financially, it can be difficult to know which bills to pay first. Here’s the main thing to keep in mind: Keeping your home – or walking away from your home on your own terms and avoiding foreclosure – should be your top priority. Your relationship with your mortgage lender is the relationship to preserve first and foremost. In negotiations with your lender, you can show how serious you are about making things right by demonstrating that you’ve sold assets, taken on extra work and eliminated optional monthly expenses, all with an eye toward reinstating your mortgage loan.

    9. Consider filing for personal bankruptcy protection. This is a last-ditch tactic to be sure, but it may be better for you than a foreclosure. With a foreclosure, your home will be taken away from you, your credit rating will be seriously damaged and you’ll still be saddled with all of your other debts. All of this can make it very difficult for you to find housing again – including rental housing. A bankruptcy filing also will hurt your credit rating for years to come, but here are the key differences: You’ll be solvent and debt-free, and with a Chapter 13 bankruptcy you may get to keep living in your house. For more details about whether the bankruptcy route might make sense for you, check out this Nolo site.

    10. Maintain your self-esteem. Try very, very hard not to panic or beat yourself up right now. This is a time to stay sharp, take charge of your situation and stick up for yourself. Remember that you’re certainly not the only homeowner in America who’s struggling right now. Direct your anger and negative emotions toward people who may deserve it – say, for instance, a predatory lender who may have deliberately locked you into a bad loan. If you’re convinced that loan terms and risks weren’t fully disclosed to you, file complaints with the Federal Trade Commission by calling (877) FTC-HELP (382-4357) or visiting this site, and with your state’s attorney general’s office or consumer affairs department. You can start the process of finding contact information for your state by clicking here .

    www.ez-lease.net
    ezlease.net@gmail.com
    713-568-8562-office

 
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