Applicants with previous foreclosure?

[Patrick Donovan]

I received an application from a prospective tenant and they are currently in foreclosure and are looking to start over fresh.  What are your thoughts on giving them that chance?

[Dick Rosen]

What caused the foreclosure?

Job loss but now they are working, acceptable.

Medical emergencies, working through it, acceptable.

Bought more than they could afford so they just quit making payments, unacceptable!

Life happens to good people as quickly as bad people. The real answers are in their solutions for resolving things. And then you have to make some judgment calls, do they seem like good people or not. Look at their credit report, does it coincide with what they've told you or are you see more accounts in collections than what you are comfortable with.