Renting to Foreclosee?

[Christopher Freeman]

Good morning all,

I had an apartment showing last night, and during the tour the prospect disclosed that she and her husband were losing their home to foreclosure after 12 years of ownership after her husband was out of work for nearly a year. He has since (recently) found new employment. 

We will obviously verify employment as part of the screening process, but based on the details provided by the tenant, they exceed our income requirements. We anticipate that they may not meet our minimum credit score of 600 due to the foreclosure, and obviously the fact that foreclosure is the end result of not meeting your financial obligations is concerning.

I got an overall "good vibe" from the wife (husband not present for tour). She had a humble and gracious disposition and was upfront and honest about their situation. I do believe in second chances, but I also need to make sure I'm protecting my own interests if I choose to move forward.

[I'm in NH, and cannot require additional security deposit; I can require a co-signer, however].

What would you do in this situation?