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 August 25, 2007

A Past Foreclosure could Hurt Renters Chances
Home owners that have received threats of foreclosure or have been displaced as a result of a foreclosure are receiving a chilly reception from rental complexes as well.
Why is this? Because by the time a foreclosure occurs, the home owner is deeply in debt. These people have little or no financial reserves to fall back on, and they often make up poor rental risks.

Rental complexes are finding the victims of foreclosure have very poor credit scores to offer and are finding these rental applicants having to utilize a co-signer and/or require very large deposits.

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