If a family of 8 has bad credit due to a foreclosure in Michigan, how can they qualify to rent/buy another h

Asked by Webwoman, 01801 Fri Jul 24, 2009

My son is having difficulty renting a house in Mass. (he just got a job there for $90K yr. full time permanent work ) due to his bad credit from losing contract jobs in Michigan for computer work. What can he do to qualify?

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Janine Elkho…, Agent, Stoneham, MA
Wed Jun 26, 2013
Renting might be easier until you establish a good credit. I have seen some owners understand and a nice explanation letter sometimes work.
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Scott A. Nel…, , 02155
Fri Jul 24, 2009
You'd have to check the legality of the larger escrowed funds & how they're held, but perhaps a co-signer with good credit might help. Finding rentals for 8 people with only 90K in income might also be tough with income to expense ratios. He should also consult with a credit counselor (not one of the fly-by night companies) check the Mass.gov website for info on how to improve & repair his credit. You might also consult with your local houses of worship you frequent, friends, colleagues, fraternal organizations etc., for sympathetic landlords that might look at more than just $$ and numbers
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Deb Nicholls, Agent, Concord, MA
Fri Jul 24, 2009
How long has he been at the new job? It may take a few paychecks to convince a landlord that the job is permanent. The foreclosure alone shouldn't prevent him from finding a place to rent. it's probably the added factor that his job is new and he is new to the area.
Web Reference:  http://homes.debn.net
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Entropymom, Both Buyer And Seller, 19067
Fri Jul 24, 2009
Hi webwoman,

Your son should look at some very family friendly areas first (try North Shore area---I am very partial and it has a lot to offer.)

Find a good realtor. If looking in North Shore area, try Deb Terlik at Keller Williams in Beverly. We ended up buying our house from one of her clients and I was really impressed with her.

The realtor should be able to steer your son to some good properties. When filing out the application, he should be as honest as possible and let the realtors and landlord work out a fair deal. Most landlords would be understanding in this situation. Just be ready to negotiate.

Things he may consider negotiating:
---sign a 18 month or 2 year lease (landlords love long term rental).
---offer additional escrow.
---pay first two months up front with the escrow.
---offer to pay rent on the 15th of the prior month (so he is always 2 weeks ahead--giving more than ample notice to landlord if there is trouble.

Most landlords want good tenants and a lot of tenants are renters because of a credit mishap. That is the reality of today. If your son has a good realtor working with him and is willing to negotiate, he should be able to find something suitable.


Let me know if you need any contact info for realtors. I have worked with many and there are a few good ones out there and some really bad ones too.

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