Forbes has an article about distressed homeowners re-entering the rental market as tenants after a foreclosure.

Many are having difficulty renting and there are plenty of reasons why.

Foreclosures are bad news for some people, unless you’re a real estate investor who specializes in them.

But a tenant with a foreclosure history offers more risks for the landlord.  Heaven knows we have enough risks we have to deal with as  it is.

“They need to know they’re going to get paid,” Jane Garvy, president of the Illinois Rental Property Owners Association says.

And she’s frankly hitting what we landlords are facing squarely on the head.

The article goes on to point out more problems renting to tenants with blemished credit because of a foreclosure.

These second time renters are re-entering the rental market with factors that are not in their favor.

That’s why  I strongly disagree with Trish Lynch, who is a former credit counselor at Clear Point Financial Solutions.

She advises distressed homeowners to seek out a rental before the foreclosure goes through.

Since many of them are strapped for cash, anyway, I don’t see how they can come up with the first month’s rent and deposit, but maybe I’m jumping ahead here.

However, just having spent the entire morning with a prospective tenant who  kept hedging on  certain facts I needed to know, I’m speaking out of exhaustion from having wasted a lot of time and effort with this person.

Besides, what make Ms. Lynch so sure the landlords won’t eventually find out? Will that really be good for the tenant/ landlord relationship?

Read more about distressed homeowners becoming tenants again in Foreclosure stigma haunts would-be renters

Popularity: 15% [?]

• My Experience in Trying to Find a Rental Car The Wife and I are traveling to Florida next month and we are going to part of Florida where it is recommended that we rent a car.  Despite being 28 years old I have never rented a car before, it probably has more to do with my undeniable thirst......
• Affiliate Article Marketing Strategy - How Do Affiliate Make Money With Article Marketing? Understanding Article Marketing Basically, article marketing is a way to get backlinks and traffic from other websites, and tap into search engine traffic with high page rank article directory. If you already heard of Bum Marketing, that is a method using Ezinearticles, Hubpages and Squidoo (or any Google favors Web......
• File This Foreclosure Story under "Duh" It's becoming increasingly difficult to keep up with all of the "pity the broke people" stories being published in recent weeks.  Almost as soon as I finished yesterday's commentary on a deceptive sob story headline from the New York Times, I read yet another goofy piece published by CNNMoney.  This article reminds us that......
• Running Around Like A Chicken Without A Head In Your Internet Home Business? Not Having Success In Your Internet Home Business? One of the biggest killers of your internet marketing dreams is not having a clear destination in mind. To often people get involved with marketing online only to get side tracked  with the allure of riches. It is in our nature to......
• Rent or Own - What's Best Right Now? The housing market has many people concerned right now and one of the most popular questions is whether or not this is a good time to buy a home. Unfortunately, there is no clear cut answer to this question, and each individual’s financial state will determine the answer. However, there......