cpudoc64, Renter in 60586

Rental options while in Chapter 13?

Asked by cpudoc64, 60586 Tue Jan 1, 2013

I am currently in Chapter 13 bankruptcy and need to move in the summertime, June/July of 2013. Some landlords I have talked to want to see the bankruptcy discharged but this may not happen by then since my wife and I are also getting divorced. I am looking to rent in the west/southwest Chicago suburbs. What are my options? Thanks for reading.

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Miekeba Jones, Agent, Silver Spring, MD
Thu Jan 17, 2013
Hi cpudoc64, Consult your Realtor. Private owners have the final decision of who they rent to.
0 votes
Patty Harris…, Mortgage Broker Or Lender, Naperville, IL
Thu Jan 17, 2013

If you have been paying as agreed on your Chapter 13 for at least a year, I may be able to help you purchase a home as long as you have 3.5-5% down payment.

If this is an option you would like to explore, please call or email me.

Best regards,

Patty Harrison
Smart Mortgage Centers
patty@smarmtgs.net / http://www.smartmortgageinc.com
0 votes
Bill J Delig…, Agent, Naperville, IL
Wed Jan 2, 2013
Be open and if possible provide a larger security deposit or several months rent up front in cash.
0 votes
Sohail Salah…, Agent, Chicago, IL
Tue Jan 1, 2013
Speak with an experienced broker who works with private landlords. If everything makes sense you can work out a deal

Sohail A. Salahuddin | Group Founder

Innovative Property Consultants Group | Sales and Leasing


Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 

O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Locally Known, Globally Recognized"
0 votes
JIM Michaels, Agent, Chicago, IL
Tue Jan 1, 2013
email me at jmichaels@remax and I will send you a list of properties that may not do credit checks
0 votes
Dan Tabit, Agent, Issaquah, WA
Tue Jan 1, 2013
I'm sorry for your difficulties. Each landlord decides for themselves what they may find acceptable when considering a new tenants application. With the financial difficulties of the past several years, you are in good company with many others in BK, Divorce and foreclosures.
The key suggestion I have for you is to keep trying and not to take any of this personal. A letter of explanation can go a long way to help you. This should include the reason for the BK, the steps you've taken to recover and your plan to avoid any financial hardships in the future. This won't sway everyone, but you only need one. You may also find landlords more wiling if you can increase the security deposit to minimize their risk.
A local property management firm may also provide you with a list of more flexible landlords in the area. Best of luck in the new year.
0 votes
Matt Laricy, Agent, Chicago, IL
Tue Jan 1, 2013
I would just be up front with the land lord and explain your situation. One of them will understand.
0 votes
Philip Sencer, Agent, Chicago, IL
Tue Jan 1, 2013
You probably should find a few agents in the Burbs you are interested in to see what landlords 'tend' to look at when evaluating potential tenants. Here in the city where I work they tend to look at the overall financial picture of the tenant....credit report/FICO score/Income/debts etc. If you have extra $$ in the bank that is a plus. You can show them a bank statement. Sometimes they will ask for 1st and last month rent. Sometimes they want a higher security deposit.
It might be different in those Burbs you are interested in.
0 votes
Thanks for all the responses. The main reason for the Chapter 13 was for her medical bills. I have a good steady job with enough income. I just don't see how I can do this rent on this house on my own, so I'll keep looking, have until June/July and hope for the best.
Flag Tue Jan 1, 2013
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