Are You Finding it Difficult to Rent After Foreclosure? - Here is a Great Solution

With the rising tide of foreclosures, there come a lot of problems. One of the main concerns is that folks are finding it difficult to rent after foreclosure. This problem is magnified due to the fact that to be able to rent a home or an apartment a credit report is used. If you have been through foreclosure, that is going to show on your report. Unless you have the chance to explain your way out of it, or perhaps know the landlord, you will be turned down most of the time. Not good!

Now What...

At this point, you are saying to yourself that this is really bad and there seems to be no way out. Even if you find a way around the credit report issue, most rental applications ask if you have ever filed for a bankruptcy or had a foreclosure. If you lie and state that you have not experienced either of these, and it is found out that you in fact have been involved, your lease or rental agreement can be terminated.

Move In With Parents...

This has to be an answer for some folks that are at the end of the line when it comes to housing resources for their family. While this can and does work for some families, there is another option available to those that are aware of it. This option is to own another home instead of renting one. Yeah right, my credit, is trashed and I can't qualify for a candy bar right now. Easy now, who said you have to qualify?

A Home Without Qualifying...

Each day in the U.S. there are hundreds of homes being sold without mortgages being used to pay for them. This is known as creative real estate financing and is mainly used by real estate investors. Okay, you say, but I am not a real estate investor. Yes you are if you bought your home that just got foreclosed. You were investing in real estate for your family home, but you probably did not think of you being an investor - just an owner.

The How To...

For our new home we are not going to use a mortgage. We are going to use a technique called a lease with the option to purchase. This means that there is no credit report to get in our way and no rental application to have to deal with. This legal and powerful method of home ownership will help us to buy our next home without all the hassle you went through to buy your last home. Can you say Woo... Hoo...? Now, are you still finding it difficult to rent after foreclosure? Not!