Over the last few years our situation has deteriorated and there've been some 30-day credit card lates. We are going to walk away from our mortgage and this will alleviate the financial shortcomings we've had. When the foreclosure is complete, we planned to move closer to family into a less expensive home and lifestyle. We'll obviously have to rent, but now I'm starting to worry that if people simply pull fico scores they're going to see a trainwreck and not take the chance to understand the situation (not that I expect them to care, really.) If you have bad credit and can't buy or rent, what do you do? Surely it can't be that bad. Are people homeless because their credit is bad??
We have no renting history, been homeowners for 15+ years.