Will being foreclosed on make it harder to rent afterwards?

Asked over 2 years ago - Tacoma, WA

I'm going to be going through a foreclosure and am worried that this will also make it harder for me to find a place to rent after this is over. Do I have anything to worry about?


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Attorney answers (1)

  1. Thuong-Tri Nguyen

    Contributor Level 20

    2

    Lawyers agree

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    Answered . A lot of persons are having financial troubles. If landlords do not rent to any person with financial trouble, landlords would be writing off a large pool of potential clients.

    What you likely need to show is your ability to pay current rent.

    If, for example, you are making $3000 a month but want to rent a place that costs $1500 a month, few landlords would be renting to you as you would look to be a poor credit risk. You would be a poor credit risk in this scenario even if there is no foreclosure.

Related Topics

Property foreclosure

If you miss too many mortgage payments, your lender can start foreclosure proceedings to take ownership of the property, but it has to follow your state's laws.

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