 Prospective Tenant ? (by LS [AZ]) Apr 5, 2008 8:55 PM
 Prospective Tenant ? (by Sean [CA]) Apr 5, 2008 8:59 PM
Prospective Tenant ? (by LS [AZ]) Apr 5, 2008 9:01 PM
Prospective Tenant ? (by jawja [GA]) Apr 5, 2008 9:05 PM
Prospective Tenant ? (by Paulio [PA]) Apr 6, 2008 5:56 AM
Prospective Tenant ? (by mike [MO]) Apr 6, 2008 7:06 AM
Prospective Tenant ? (by Lynda [TX]) Apr 7, 2008 11:43 AM
Prospective Tenant ? (by LS [AZ]) Apr 7, 2008 8:13 PM
Prospective Tenant ? (by LS [AZ]) Posted on: Apr 5, 2008 8:55 PM
Message:
State Specific Question About: ARIZONA (AZ)
So I'm rerenting an upscale house for the third time. I have prospective tenants who got burned with the housing situation. They've been homeowners for the past six years, but got greedy and stupid. They rented out their old home and bought one they couldn't afford. Now they can't sell or refinance and according to their credit report, it looks like they're going into foreclosure. The prospective tenants have decent jobs (according to pay stubs--but still need to verify) and they are pleasant, well-dressed, keep up their current yard (drove by) and have a nice clean car. Aside from their home loans for the past 5 months, everything is paid as agreed. Should I worry about them getting ready to file bankruptcy? They don't seem to be going down that path. In fact, the husband is going to school to become a physical therapist. Any Advice?
--207.200.xxx.xxx |
Prospective Tenant ? (by Sean [CA]) Posted on: Apr 5, 2008 8:59 PM
Message:
PASS!
Sean --76.105.xx.xx |
Prospective Tenant ? (by LS [AZ]) Posted on: Apr 5, 2008 9:01 PM
Message:
Why, Sean? --207.200.xxx.x |
Prospective Tenant ? (by jawja [GA]) Posted on: Apr 5, 2008 9:05 PM
Message:
and why can't they move back into their old home? --74.166.xx.xx |
Prospective Tenant ? (by Paulio [PA]) Posted on: Apr 6, 2008 5:56 AM
Message:
I would take them. With a properly worded lease, what's the real risk, a month without rent? You could do ALOT worse. Would you rather dirty, unpleasant people as long as they hadn't gone into foreclosure after buying a second home? --209.74.xx.xxx |
Prospective Tenant ? (by mike [MO]) Posted on: Apr 6, 2008 7:06 AM
Message:
I would deny if this is an upscale house. Let them resolve their problems before becoming your problem --24.171.xx.xx |
Prospective Tenant ? (by Lynda [TX]) Posted on: Apr 7, 2008 11:43 AM
Message:
Agree with Mike. These folks have made bad money decisions and now they are in such a bad situation that they are willing to let their home go into foreclosure? They both have good jobs but between them they cannot make their own mortg payment? There is something wrong here. I bet if they REALLY wanted to make that mortg payment they could do it. It would mean tightening their belt, changing their living style. NOT doing other things and shifting that money to the mortgage. Many are not willing to do that.
Also, something is not right with blaming it on the housing market. They knew what the PITI payment was going to be after they bought the new house, but they went ahead anyway? And now they can't move back into the old house and rent out the new house for the amt of their payment? Too many really bad money decisions for me, and too short sighted. What bad money decisions will they make while in control of your property??? --140.140.xx.x |
Prospective Tenant ? (by LS [AZ]) Posted on: Apr 7, 2008 8:13 PM
Message:
Many people in the area started speculating. The assumed the market would go up and up and they could afford their homes with interest only payments with a low teaser interest rate. Now the homes have depreciated and they can't refi their homes becuase they won't appraise at their loan amount. Many can't afford the increase taxes either. My rent is over $1000.00 less per month than what they were paying and my rental is even nicer. Many other builders have gone under and no one want to buy their resale because they won't have a warranty. It's a big mess. Many people got in over their heads becuase they simply didn't want to be left behind. It's sad--but the young ones have time to get out and start over. --207.200.xxx.x |
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