Home Loans and Support

Hardship/Letter of Explanation to rent

Discussion in 'Foreclosure Prevention Services' started by chucki, Apr 17, 2010.

  1. chucki

    chucki LoanSafe Member

    Should you foreclose with Chase & have to move on to find a rental with BAD CREDIT, does anyone have an example of a letter showing how you approach a renter or property manager showing why you have bad credit & what to say to have the renter or property manager approve you for a rental after foreclosure & bankruptcy? I have gone to eHow & saw some information on what to do, but there were no examples. Can anyone help here?

    Thank you!
  2. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    Dear _____________,

    I am writing this letter to explain some recent economic events in my life that resulted in some negative items to appear on my credit.

    Unfortunately, due to a job loss and lack of employment, I was unable to pay my mortgage that just got too unfordable to manage. My wife and I worked very hard to obtain the home and we tried or best to work with our lender, but in the end, they would not help us lower or payments. The end result was that they had foreclosed on our home and we then became a statistic as one of the millions in America who this has happened to also.

    My wife and I are now gainfully employed and renting is a much more viable option for us than in owning a home. With our incomes, we can easily afford this apartment and that is what it comes down to. All we ask for is another chance at establishing good rental history and a stable place that we can call home.

    Please do not hesitate to ask us any questions and we pray that you will consider us for this apartment that we love.


    Moe Bedard
  3. Tabby822

    Tabby822 LoanSafe Member

    Moe- Thank you for sharing that sample doc. We are currently trying to save our home but our lender will not work with us to make our payment more affordable so, we too may be using this sample letter soon.

    Quick question... how long does a foreclosure in Florida take? I know that it depends on the lender but if they are speedy (as I expect they will be) how long do you think we have in this house once we fall 3 payments behind?

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