Man! I have a bad, bad problem and need some advice. I bought a home (with bad credit for too high of a monthly payment) 60 miles from work 3 years ago. Well, the price of gas shot up and we have been living past what we can aford for all this time, our credit is worse than ever, and now we are about to be forclosed on. Selling or renting is not an option as we would have to put some money (that we don't have) into the home first and the small town we live in closed down its biggest employer last year so no one would probably be able to do it anyway. My wife and I are just sick about this and to make matters worse, we have 3 kids to think about. We make enough to rent a place close to my work and be just fine but no one wants to rent to us without a co-signer and we do not have a co-signer. Is there a safety net in place for people like us or is this just how people end up living on the street?

I have to disagree with Jackie, if you "fight for a year" (more liek a couple of months) that will show up on your credit as well. It will make both renting and finding a new job hard in the future as it shows the ethics of a complete creep.

You are the one that choose your situation, knowing full well you could not afford this.

Keep looking for a rental. People with really bad credit end up living in extended stay type hotels, where you pay in advance. A landlord is going to afraid you will treat them like you did your mortgage and try to $crew them.

If you are not too late you can talk to your bank about doing two things. Short selling for one, them accepting less money back then they gave you in the first place. Also, letting you just pay interest for 3 months while you are selling.

Looking for further ways to screw people, including your fellow citizens, will only make your situation worse.

You will not be homeless. If you are in danger of losing your home due to financial hardship or default on the mortgage, the bank cannot evict you with 3 children in the residence. I am not sure what state you live in, but in California it takes more than a year to evict a family for non-payment. My advice to you is STAY PUT in your home for as long as you can, as occupancy holds a lot of weight in the legal system. Also, contact your local Congressman to inquire about free legal advice. You can even send him/her an email from their website detailing your situation with your contact info. Make SURE you let them know you are in danger of defaulting with three children living at home. Trust me, it is election time and you will be assisted fast! Be well.

hi there,

I am in a similiar situation. If you are just honest with the people who are renting the apartment, and can prove that you can make the rent payments, they will work with you. I worked with a realtor and she had showed me quite a few rentals. She said since you work with a realtor it helps improve your credit too!!! I showed that I could afford to make my rent payments and she was able to do something. I don't know where you live, but just look around and be upfront and somebody might rent to you. Hope all works out for you!!!!!!