How To Rent An Apartment After A Foreclosure

Once you have lost your home you will need a place to stay

. Finding an apartment after your home has been foreclosed can be a daunting task, but it doesn't have to be impossible.

Some bigger apartment buildings may not accept you with a foreclosure on your credit history but trying smaller places can be the trick to get you a new home.

Your credit report may contain errors that will work against you, therefore, it is advisable to get a copy and make sure any errors are rectified. A bad credit report means you are going to need to convince a landlord that you can pay rent. A reference from an employer is a good strategy.

Check the local classified ads in your paper. Look for smaller buildings like duplexes, town homes, basement apartments and even condos who are renting. Larger buildings will do a credit check and more than likely will turn you down. Smaller buildings and private residences might be more willing to work with you.

Look at bulletin boards in grocery stores; ask family and friends, even co-workers if anyone knows of any rentals. Most of the landlords are more willing to work with you if they know the person they are recommending to them.

You may need to be a bit patient and avoid taking the very first option that comes up - often times it won't be the best option.

Be sure you know exactly what money needs to be payed up front. Is there some sort of security deposit on top of the first and last months worth of rent?

If you have the ability, it is often a good idea to pay two months up front as a sign of good faith to the landlord.

Make sure you have all your documents in order - references from previous landlords, credit history, bank statements, previous rental history etc.

If you can, organize the rental before the foreclosure goes through so that this black mark on your credit is not a factor in the rental application.

by: Jared Wright

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