The Result of Expensive Rents
FT briefly mentioned the problem yesterday – about the fact that there are more and more tenants who no longer can afford the place they have been renting. Now MSNBC talks about those would-be tenants, the former homeowners, who have a foreclosure history on their credit report:
As if losing a house on the court steps wasn’t enough, some former homeowners may find themselves turned away by apartment owners spooked by the foreclosure history on their credit reports.
One Virginia couple ended up living in a hotel after their foreclosure, according to Trish Lynch, a trainer and former credit counselor at ClearPoint Financial Solutions, who worked with them.
“No one would rent to them. And the hotel is costing them $3,000 a month to stay there,” she said.
If ever our readers should be in this position in London – Homeless London could be of big help in finding a cheap hostel or some another alternative.
[...] ChinaTechNews.com – The Technology Source for the Latest Chinese News, Information, and Commentary o… wrote an interesting post today onHere’s a quick excerpt Not only are people are pushed off the property ladder, they’re out of the rental market as well. FT briefly mentioned the problem yesterday – about the fact that there are more and more tenants who no longer can afford the place they have been renting until now. MSNBC talks about the problems of those would-be tenants, the former homeowners, who have a foreclosure history on their credit report: As if losing a house on the court steps wasn’t enough, some former homeowners may fiand themsel [...]