Renting a house with bad credit?
Post date: July 1st, 2011I have just gotten a divorce. My ex lied to me a LOT about paying our bills and mortgage ( my bad for not checking up on him sooner) and then when I asked for a divorce he moved out, stopped contributing to our community debt, didn’t pay any child support (until ordered), and got a slimy attorney who forced me to get a lawyer myself, leaving me to fall behind in trying to keep up with bills. Needless to say we are losing the house, my credit is now labeled "bad" and I need to find a place to live for me and my kids.
I make a good living, can prove that I have the means to pay rent ( my boss even said he was willing to be a reference). My questions is, will having my Father cosign a rental application ( he has excellent credit) help me qualify? Should I explain to the rental company "why" my credit score is bad? Are there any programs through HUD that can help someone facing a foreclosure and bad credit qualify to rent?
- Tags: bad credit, boss, child support, credit help, credit score, divorce, foreclosure, hud, lawyer, mortgage, rental application
July 1st, 2011 at 8:27 am
Not all landlords will take you with bad credit even with a co-signer. Many will deny on credit alone & will not take any co-signers or larger deposits. No landlord ever has to make a deal with you because you have bad credit.
Why your credit is poor does not really matter. You are certainly free to explain but most landlords will not listen to & do not want to hear stories and in the end it would not make any difference. All you can do is apply & take your chances.
I’m not trying to sound mean, that is just the way it is.
You can try applying for HUD or Section 8. The problem is tat the waiting lists are years long in many areas. You have to go to your local housing authority & check with them if they are taking any applications.
July 1st, 2011 at 8:27 am
This situation is happening more that ever and the Landlords and Rental Companies are aware of this, your worse scenario is that you need to be ready for paying Deposit, first and last month at front (example the rent is $1,000 you need $3,000).
Your divorce’s paperwork and the cosigner will help you in this issue.
For sure you are going to find a place for you.
Good Luck
July 1st, 2011 at 8:27 am
1. Yes, your father’s credit will help you, but only if he has the income to guarentee that the rent will be paid.
2. No, it is a business, they are not interested in your personal problems. Instead, try to save up enough to pay a couple of months worth of rent in advance.
3. No. HUD offers rental assistance to low income renters. That doesn’t include renters with bad credit. The same credit standards apply. Low income doesn’t equal bad credit.
Good luck
July 1st, 2011 at 8:27 am
Yes having a co signer helps. No HUD is not going to help you