Now, what is very important is that every other bill is paid. Understand, if someone can't afford their housing payment but also is not paying other bills than the situation changes. Now it seems that the prospect tenant is simply not paying their bills and will unlikely secure a property to rent without going through extreme circumstances.
Sohail A. Salahuddin | Founder
Innovative Property Consultants Group | Sales and Leasing
FREE SITE TO SEARCH THE MLS: http://www.innovativepropertyconsultants.com
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030
"Locally Known, Globally Recognized"
Depending on when the foreclosure took place and the property was sold by the bank, you may be in a position to purchase again, if you are interested in going that route. FHA requires 3 years from the sale date of your home if it was a foreclosure or short sale, with a qualifying credit score and a minimum down payment of 3.5% Hope this helps.
Cecelia Marlow - Vice President
The Federal Savings Bank
Yes, there are some rental companies and landlords that are willing to lease a house to you even though you have gone through foreclosure. They are skeptical and you will probably go through allot of questioning and promise making but you cant blame them. Good luck!!!