FromW2S, Renter in Lake Dallas, TX

Rent after short sale is on credit report

Asked by FromW2S, Lake Dallas, TX Thu May 20, 2010

We went through a short sale last September and moved to a different state/city & had no problem renting. We rented before the short sale was final & property manager didn't do a credit report on us.
This September we are wanting to rent in a different city and need a house with a better layout. I'm scared we are going to lose our application fees due to our short sale. Can someone tell me how high of a possibilty this is. We have paid our rent month to month in full & on time. We did have to stop paying our last mortgage for 2 months to be considered for a short sale. So that will be on our credit report.

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Answers

5
Probably the events are recorded as delinquents followed by the short sale. The best way to find out is to check it yourself or have someone check it for you.

Things that happened 12 months ago tend not to be as relevant as your payment history over the last 12 months. On time payments are a big plus.

It's best to be honest about your situation and ask if your application has the possibility before you pay the money (if you had a foreclosure, a short sale, a big ugly dog, or anything else that you have doubts about). Some newer landlords or managers expect your report to be perfect - if it were, you probably wouldn't be trying to rent. Experienced landlords and managers can sift through the medical payment data and focus on unpaid utilities, judgments for back rent and so on.
Web Reference: http://www.Mortgages-TX.com
1 vote Thank Flag Link Tue May 25, 2010
I had a short sale last year and my Realtor recommend http://www.cfs-mortgage.com/flex for a home loan. I am very happy to be able to purchase again.
CFS Mortgage assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
0 votes Thank Flag Link Sun May 19, 2013
Landlord should understand that most people rent for a reason. I just got my cousin a rental here in DFW and they are short selling in VA. I basically got their prior landlord to give them a letter of recommendation. Your rental payment history is very important and holds a lot of weight with a potential landlord.
0 votes Thank Flag Link Wed May 26, 2010
We went through a short sale last September and moved to a different state/city & had no problem renting. We rented before the short sale was final & property manager didn't do a credit report on us.
This September we are wanting to rent in a different city and need a house with a better layout. I'm scared we are going to lose our application fees due to our short sale. Can someone tell me how high of a possibilty this is. We have paid our rent month to month in full & on time. We did have to stop paying our last mortgage for 2 months to be considered for a short sale. So that will be
0 votes Thank Flag Link Tue May 25, 2010
Hi. The determination about whether you are credit worthy to a landlord can be very subjective. If your rent has been paid on time and you have a good job history with adequate income to pay your bills, you should be able to find a home to rent. Your credit report may only reflect the late mortgage payments. That is a much better situation than a foreclosure. How about running a credit report to see what it looks like. That way, when you start looking for your next home, you can share your story with the prospective landlord.

~Robert Greenblatt
Keller Williams
Cherry Hill, NJ
Web Reference: http://www.myhomerenter.com
0 votes Thank Flag Link Thu May 20, 2010
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