First, let me answer your question flat out: You can be denied because of a low credit score as a result of your foreclosure.
Please note though that a smart landlord in today's market doesn't just rely on a credit score. I had a young lady once who had a score of 750 yet 110 percent of her income was going to her minimum expenses. She was employed but was financially unattractive on paper despite her high score. She also had high balances on her credit cards. The report is so much more than just the score.
I look at a credit report differently. If a person is coming out of foreclosure situation where they were paying $2500 per month for example and now they asking to rent for $1500 per month, that would an improvement on his/her situation.
I agree with other respondents in being upfront with your foreclosure and then going a step further to explain how a rental is more affordable for you.
Your good character and previous ability to pay other bills on time before your foreclosure should be reasons someone would want to rent to you.
References would help in this case.
Good luck to you.
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Unfortunately as others have answered you can be denied based upon your credit score and/or credit history. Most likely if its listed for rent with a broker, a credit check will be done. If its a private rental, maybe not but either way honesty is still the best policy. Most, if not all, landlords are well aware of the rise in foreclosures and they realize that these families will need homes. However, it is their choice as the landlord to deny someone based upon credit so it really depends on the individual landlord.
Gina Chirico, Sales Associate
Prudential NJ Properties
973-992-6363 ext 116