Recent experience working with our Short Sale clients have brought an onslaught of new concerns as they move
into their next “phase” of recovery.
“Renters” for a few years…
We are in a volatile housing market, the fact is 1 in every 6 homes with a mortgage is behind in payments….meaning a potential Foreclosure. This is a huge concern for those of you that are looking for “Homes” to lease.
Kris and I help as much as we can to provide information on the status of the potential lease home, but information on missed payments is NOT public information. A real estate agent can check for Notice of Default filed on the property, but as you are aware….banks have been known to look the other way for a year plus…before filing a Notice of Default!
Here are a few tips to have your real estate agent check on before you sign a lease agreement:
- When was the home purchased?
- How much is owed on the home…Does the amount you would be paying for rent cover the mortgage payment?
We actually have a great networking relationship with several “Builders” that have single family homes and lovely complexes that are safe from foreclosure and kept to high standards for lease in areas of San Bernardino, Riverside and Los Angeles County.
If your in need of help and are looking in these areas, give us a call or send us an email. We don’t charge you for our services, we are paid by the owner of the property we place you in.
Now that your going to be renting, here are a few things to consider:
- You will be asked to provide proof of income.
- A recent bank statement.
- Copy of your Drivers License.
- Most likely have to pay for a credit check, usually between $25-$35 per person over 18.
- If your credit has really suffered…a recent Foreclosure…you may be asked for an increased deposit.
When you work with us, we do our best to get you approved for the home you desire.
We’re also here for you if your looking for alternatives to foreclosure, remember, you do have options.
