Renting after bankruptcy
Finding a landlord that is willing to approve a tenant who wishes to start renting after bankruptcy may seem like an impossible task, but there is hope. Since the stock market crash of 2008-2009 and the economic downturn as a result with the housing market collapse, many were faced with the difficult choice of bankruptcy to eliminate excessive debt. What many were not aware of were the effects that a bankruptcy would have for the following 10 years of their lives.
Of the most important affects was finding a rental property as the ability to get approved for a home loan is near impossible. For some the ability to get approved for a rental property based on their income was enough in the early years of the recession. In the current times many that have a bankruptcy are finding it more difficult than ever to get approved as credit approval processes have become much more strict.
The entire credit approval process in all industries has significantly changed and regardless of income, people that have less than perfect credit are being denied loans and rental approval– especially in the event of a bankruptcy. We understand that circumstances outside of our control happen and in the recent economic collapse many that were financially stable with perfect credit were unexpectedly affected with negative equity, job loss, and lowered pay as a result. Due to this, many were faced with the difficult choice of declaring bankruptcy to get out from under the insurmountable debt.
With our rental guarantee program, our approval process isn’t based on your credit or a past bankruptcy. It is based on your current income and passing a criminal history background check. If you are finding it difficult to get approved to rent the nicer properties, contact us about our rental guarantee program to see if it is a good fit for your needs.