Scores of individuals and families in America are being forced out of homes they can’t afford. If you’re one of these unlucky individuals, you’ll likely need to find a rental after your foreclosure.
And that means finding a landlord who won’t put too much weight on the fact that your former home was foreclosed.

Remember that most landlords and apartment companies will run your credit report and review your credit history when you submit a rental application. The foreclosure may show up you on your credit report and could work against you when you are looking for a new place.

To get the apartment or rental home you want, use these tips to find a rental after foreclosure:

Investigate apartments online.

In recent years, a number of online apartment rating services have flourished, making it easier for prospective tenants to learn a lot about a housing unit prior to even seeing it in person. So before you hit the pavement to go apartment hunting, use a service like ApartmentRatings.com or ApartmentSearch.com to discover everything from how much the rental units cost each month to whether an apartment accepts pets.

Some sites also show comments posted by others about the apartments – including viewpoints on how safe the neighborhood is or how responsive management is to fixing problems. After a bit of online sleuthing, you should be able to weed out higher-priced places you know you can’t afford. There’s no sense in going from one costly housing situation to the next.

Offer a higher deposit.

Some landlords may take you more seriously if you offer a higher-than-requested deposit. Do what you can to prove that you have funds available to pay your rent on time, and the foreclosure on your credit history may not hurt you as much.

Since it’s taking much longer now for banks to repossess homes, perhaps you have the option of what’s known as squatter’s rent available. If so, giving the landlord a higher deposit means the landlord can adequately cover any losses if you end up breaking your lease agreement. Give your landlord some peace of mind, and you may find it much easier to secure the rental property you want.

Find a co-signer.

Having someone with a stellar credit score and positive credit history co-sign your rental application can make it easier to get the house or apartment you want. Landlords may look past your foreclosure if you have a strong, creditworthy co-signer because a co-signer acts as a guarantor on the rental agreement; if you default, they’re responsible for paying the amount due.

Having a co-signer means you should be sure to get an apartment with reasonably priced rent – preferably far less than whatever your home payment was. You don’t want to have a family member of friend co-sign and put their credit on the line for you, and then regret their decision later if you can’t afford to pay your rent.
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