Rental Basics in 30306>Question Details

Maria, Renter in 30306

I am going to lose my house to foreclosure. I have a great job history. How hard will it be to rent a place?

Asked by Maria, 30306 Fri Mar 25, 2011

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NA’s answer
Renting is far easier than buying a home and you seem to have gotten through that. Assuming you have the money then renting is a pretty pain free process. You can look for places by yourself or you can have a Realtor work with you to find the a great place for you, do all the negotiating and make sure you sign a contract that is fair to you. It all depends on how much time and effort you are looking to put into it.
Web Reference: http://sellearth.com
0 votes Thank Flag Link Sun Mar 27, 2011
You can live in Buckhead/Midtown homes for approximately 60% to 75% off the going rental rates for each home. There are no credit checks. Your job history and a clean criminal background are what is checked out. The company was established in 2002 and has a number of homes to choose from. You can go to http http://:www.rmr-usa.com/home-staging-for-home-managers.php
Web Reference: http://www.rmr-usa.com
0 votes Thank Flag Link Sat Mar 26, 2011
I echo the suggestion to look into short sale or loan modification if you can. Although you can find a home for rent , it's better to avoid the exposure to extra fees and /or higher interest rates for several years to come while the foreclosure incident flags your credit report.
If you'd like an attorney to help you get approved for a short sale I'll put you in touch with our attorney office who has high success rates in getting short sale approvals for our sellers. Their small fee will be paid by the lender, not by you, upon the sale of the house. 770-438-1975 Best of luck.
0 votes Thank Flag Link Sat Mar 26, 2011
You should not have a difficult time finding a new home as long as you have a stream of income.
0 votes Thank Flag Link Sat Mar 26, 2011
Hello Maria,
unfortunately due to the state of the economy tons of people are in the same position as you are right now. The good news is that there are companies that understand that times are hard and people are going to need a second chance. My husband and I actually work with people that have lost their homes to foreclosure and are now interested in renting. Approval to rent the properties that we list are based on employment. Since you said that your employment history is strong I encourage you to take a look at some of the properties that we currently have available and give me a call. Best of luck to you! Summer King King Realty Group LLC 404-271-0610 http://www.rentinghomesfast.com
0 votes Thank Flag Link Fri Mar 25, 2011
Property Management Companies like Solid Source Property Management look at ability to pay. Many of their tenants have been in foreclosure.

Mark Lackey
Assoc Broker
Solid Source Realty, Inc.
http://www.AtlantaHousingSource.com
404-886-8789
0 votes Thank Flag Link Fri Mar 25, 2011
Maria,
I'm sorry for your situation. You are in good company with many people in the current economic tough times. Before you give up, please consider all of your options and make an informed decision while you have options available. Some of your options include, but are not limited to a Short Sale, Bankruptcy (which can extend your time in the home and perhaps allow you to recover) deed in lieu of foreclosure and outright foreclosure.
There are attorneys who can better advise you of the consequences associated with each choice. If you are financially unable to afford one, seek the state bar association for someone who can help for free.
To answer your question directly, each landlord will determine what level or credit worthiness is acceptable to them. Because so many people have gone through what you may be, there are some that are more flexible than others. You may find that writing a letter explaining your difficulties to submit with your application may be useful in improving your odds. Best of luck.
0 votes Thank Flag Link Fri Mar 25, 2011
Much will depend on the individual landlords, but one can consider paying additional security, pre-paying some of the rent, etc.; since you state that you are going to lose your house to foreclosure--have you considered a short sale...either way, do protect yourself and any other assets you may have by consulting with an attorney who specializes in real estate--if you cannot afford one contact your local Legal Aid Society.
0 votes Thank Flag Link Fri Mar 25, 2011
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