And, if you've received a Lis Pendens... for goodness sakes try the "Hail Mary" pass of short sale. The worst that can happen is the bank forecloses anyway, and a successful short sale would probably get you relief from having to pay the difference between the homes current value and the outstanding debt. This is a recourse state.... foreclosure doesn't cancel what you owe.
I dont think there would be such a problem but you would need to find a trusted realtor who would guide you through the process. Please remember that all the services for you would be free.
I work a lot with rentals and in cases of bad credit, owners sometimes request additional one month deposit that's all. Not all of them will be willing to do so, but if you are not under time pressure I will be able to find you a place with no problem.
Please contact me directly at firstname.lastname@example.org or call me at 305.877.2880 and I can send you some listings so you can see what is available for rent, where, how much etc.
Thanks and regards,
Thank you for being realistic with your scenario. Credit is legitimate grounds to discriminate for a landlord, and many will out of self preservation. When a tenant doesnâ€™t pay the rent, the landlord canâ€™t pay the mortgage.
You can improve your odds by being upfront about your situation, explain why your credit was damaged and what you've done to resolve it for the future. If your credit with previous landlords or mortgage was good, play this up. You can offer larger deposits, pre-paid rent and just be patient. Every landlord sets their own criteria for acceptable credit.
One last note, hiring an agent doesn't cost you anything. Some agents work rentals regularly and know about inventory which may not be public.
Unfortunately now many people have a bad credit for different situations (Foreclosure, Short Sale, Loan Modification, behind on payments). Getting a good Realtor to help you is the best decision. For most Landlords the most important thing is that you make your lease payments on time. Having a good income is a big plus, current landlord reference letter, no criminal records. In some cases landlord may ask for an additional deposit.
Iâ€™ll love to help you out. I cover the Kendall, West Miami, South Miami, Pinecrest, and Coral Gables area. Send me an e-mail so I may send you a list of properties.
Marco Torres, Miami Premier Realty