Reply to Landlords: Would you rent to a family who had been foreclosed?

Forum Index » Real Estate

Reply to "Landlords: Would you rent to a family who had been foreclosed? "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]I skipped the credit check for my current tenants. I had spoken to them so many times and really felt like it was unnecessary. I had them fill out the form and agree to pay for it but never ran it. They were clearly very willing to do it and I just felt like it was a waste.

I asked for employment letters and saw that the wife was a dr at a local hospital and the husband had a good job at a large company with a very good salary.

They were just very solid people. I think I would have rented to them if they had a foreclosure.  They just kept telling me how much they wanted the place, didn't nickel and dime the rent or security and emphasized they would take care of the house as if it were their own home, They called to tell me about themselves and their family and that was worth more than a credit check. Those have errors too so nothing is 100%.[/quote]

Those kind of people don't get foreclosed on.

There is a direct relationship between foreclosures, income and job type.[/quote]

A friend of mine who was a medical resident *almost* got foreclosed on. Her house ended up being a short sale. When she started her residency in 2006, she and her husband bought a house in an okay neighborhood in the city where she lived (not DC, but neighborhood then was comparable to Mount Pleasant or Columbia Heights now - up and coming, but still a little rough around the edges). When the market tanked in 2008, development in her neighborhood ground to a halt, and not just her neighborhood but the whole city. They decided not to stay in that city and needed to get rid of the house, which languished on the market for almost a year. People just were not buying in that area. They were seriously considering just letting it get foreclosed on when the bank finally approved the short sale.

My point is that the economic hard times we've been in for the past 5 years has resulted in a lot of people losing their jobs who had been stable for years and a lot of people losing their homes who were not the kind of deadbeat losers that used to get foreclosed on.

In answer to the OP, I would be open to it, with a slightly larger deposit, provided that there were no other red flags. But it would really depend on the family.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics