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Contact a Realtor. We work with people in your situation. It is true that large corporate type apartment complexes are not BK friendly, however, there are many private landlords that are receptive. But you do have to have enough funds - that is critical. In my area that means First, Last and Security equal to at least one month. Your area may be different. Get in touch with a Realtor that works with you and your situation.
Find a realtor does handles mostly rentals. Some advertise in the monthly real estate books.Also look for small apartment complexes undr 10 units. We have 2 friends that manage rentals and they really only care about evictions and foreclosures. Smaller firms don't pull credit in many cases.
@Anonymous wrote:
@Anonymous wrote:Oops - that should habeen "YMMV" - "Your mileage may vary", just slang for a situation that varies quite a bit.
Oh that makes more sense lol.
I Googled it and only thing it came up with was "Your Yak May Vomit" haha. Thanks for the help.
I just wish I knew this would be a problem prior to filing. I knew buying a house was off the table for 2 years but renting too?? Ugh
Buying a house is not off the table. You can get an FHA loan. You just can't get a conventional loan.
@Anonymous wrote:NormanFH wrote:.Buying a house is not off the table. You can get an FHA loan. You just can't get a conventional loan.
Op filed bk within the past 24 months unless this policy (FHA) changed since earlier this year Op needs to wait atleat 24 months. Also while that is the base many lenders have a longer overlay. When I did a lot of counciling for homeless/ renters BOA had a terrible overlay and we never could get anyone approved through them
@Anonymous wrote:
@Anonymous wrote:NormanFH wrote:.Buying a house is not off the table. You can get an FHA loan. You just can't get a conventional loan.
Op filed bk within the past 24 months unless this policy (FHA) changed since earlier this year Op needs to wait atleat 24 months. Also while that is the base many lenders have a longer overlay. When I did a lot of counciling for homeless/ renters BOA had a terrible overlay and we never could get anyone approved through them
You can acutally get a FHA loan while in a BK, just have to get approval from the courts.
And yes it does depend on the lender. For example the one I am working with will right after you are discharged. On the other hand rocket mortgage wont' work with you until 1 year and a day.
@StartingOver10 wrote:Contact a Realtor. We work with people in your situation. It is true that large corporate type apartment complexes are not BK friendly, however, there are many private landlords that are receptive. But you do have to have enough funds - that is critical. In my area that means First, Last and Security equal to at least one month. Your area may be different. Get in touch with a Realtor that works with you and your situation.
+1 on this.
I had to move soon after I filed my BK7 in 2007. I rented from a private landlord, and it turned out to be great experience for me.
The alternative is for you to post on Craigslist, which is what I did in the last 2 places where I lived (both in the midwest). I put what I was looking for in my ad. For those motivated landlords that responded, I let them know prior to seeing the property that I had a bankruptcy on my record, and I also offered that I would pay 2 months' rent for security deposit, should the property be a good fit.
Even when you're, say, 7+ years out of your BK, property management companies may still give you a hard time. When I moved to Oregon, and I was 7+ years after filing, the property management company I chose to rent from requested First Month, Last Month, and 1.5 months' rent for security.
There is a lot more flexibility in private landlords, but sometimes it can be hard to find them.
Good luck.