I just want to get the facts straight here:
– The family currently owns in your neighborhood? (Vs currently renting).
– They’re looking to walk away from their mortgage in order to rent from you?
– Is their current house for sale (short sale)? Or are they looking at just doing a jingle mail?
– What is to prevent them from doing the same to you? Breaking the lease…
I guess I consider the fact that it appears (based on what you posted) that they’re not even trying to short sale, that this is a bigger red flag than the bankruptcy. At least in my book.
1. Asking for long term lease is frequently a way that deadbeats impress and win over landlords.
2. Sounds to me like they should be downsizing monthly housing costs much more if they were unable to pay for a house for which PITI is only $500 a month more than your rent.
> Then we saw a big red sign – the husband and wife >filed chapter 13 bankruptcy in 2009 due to loss of >income and medical expense. Should that be a deal >breaker?
Pass. Seriously….This sounds like a systemic money problem. It’s unfortunate…But my gut feeling is that it would be difficult for them to pay you rent.
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