For most homeowners, losing their homes to foreclosure is a very stressful event. It is also frustrating trying to rent a house by explaining their financial misfortunate to the landlords.
In order to rent a house after short sale or foreclosure, it is very important to buy the way into the rental house by giving legal maximum deposit which is equivalent to 2 months rent plus the first month rent. Some landlord requires an extra month rent prepaid. So you will need 3 to 4 months rent ready to apply for a rental.
Only 50% of the landlord will consider renting houses to credit challenged applicants. If your application get rejected, don't get frustrated. Just move on to the next house. Hiring an experience agent to negotiate on your behalf will be a plus as well.
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