BearsFan1: How do you rent an apartment if you have left your home to the bank to foreclose?
If you foreclose on a home, isn’t your credit rating in the dumpster? How would you rent an apartment? Would you want to have an apartment ready prior to having to leave your home?
Answers and Views:
Answer by Ryan M
Landlords who rent out crummy apartments don’t care about credit as much as cash.
Yes. This ruins your credit. Depending on your state, this foreclosure can be on your credit for as long as seven years. Again, it depends on where you live.
I had a relative in this same situation. You can rent an apartment; however, you may have to get an apartment that doesn’t do a credit check. They’re out there, but I must warn you: these aren’t always the best apartments. You may also want to consider having someone co-sign for you an apartment. This person must have good credit.
Yes, it would be wise to have an apartment ready prior to eviction. This way you won’t be homeless.
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