Are there nice apartments that you can rent after a foreclosure?
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I rent houses and run into people with foreclosures more and more. Explain the situation, if the rest of your credit looks good you should be OK.
You may have to rent a house from a private owner, as apartment managers do not always have leaway to bend the rules set by the owner.
It sucks that the foreclosure fell under your name as well but you should be able to find a good apartment without much of a snag. Don't get an apartment with too high of a monthly rate as you should probably begin saving all over again so that you can buy a house/condo in the future. Good Luck.
You will have to explain the situation to the prospective landlord.
Considering you were partly liable for the home, you should have been paying 50% of the payment each month directly to the bank (not to him, obviously).
A lot of places just want to see (when you're buying a home) that you have no foreclosure history, but I do not think apartments are as stringent, especially with the situation at hand as you've explained to us.
Best of luck!
Your credit has been effected by the foreclosure. It will remain on your credit for seven years. You can explain what happend to potential landlords prior to them running the credit. Being up front about it, and being on your own may be an advantage. If your income is strong enough to support you housing, then give him/her all of the resources to verify that, and you may be okay. In the meantime, consult with a reputible credit reapir company and see if there is anyway you can start working on your own credit to start making things better. I am divorced with two children, and my credit got clobbered through the divorce. I took time and worked on it, and got through it. Hang in there, and remember to be honest with the people who interview you. It just might make the difference you need. Good Luck!!
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