Renting With Bad Credit [mortgageloans-protection.blogspot.com]
Question by smbennett_01: Renting with bad credit? I don't have good credit, but most of it comes from late payments that are over a year old... I'm planning on moving soon and I will be moving in with two people who are already living in the apartment I will be moving into. Does their establised residence there help me out? Best answer for Renting with bad credit?:
Answer by whistler
If you don't pay your bills on time nothing will help you out.
Answer by kewlsurf27
You may have to pay a deposit, but you should be ok.
Answer by taizz
It depends if they are both on the lease agreement if they are it will definitely help you out. It be just like buying a car with co-signers, but if you are going to be the only person on the rental contract then them living their doesn't make a difference as if you are alone.
Answer by yums
read tips and articles on debt/credit and also renting that will help you more on this site
Answer by Bobbie M
It depends on whose name the bills are in. In the rental agreement, let the landlord know that you will be responsible for one third of the rent. In the furture you can use the agreement and the landlords statement for a credit reference. Just make sure that you part goes to the landlord and always ask for a receipt.
Ans wer by Piffle
it could be tricky. so long u keep ur job
Renting property despite bad credit can be done by writing an explanation of the bad credit scores, offering to pay a larger deposit, offering to pay a higher rent, finding a cosigner and providing a list of references. Rent an apartment successfully, even in the case of bad credit, with advice from a credit repair consultant in this free video on personal finance. Expert: Stetson Lowe Contact: stetsonlowe.typepad.com Bio: Stetson Lowe is a credit repair expert. Known as the "mortgage insider," Lowe assists increasing credit scores for the most challenging of clients. Filmmaker: Paul Kersey
mortgageloans-protection.blogspot.com Credit Ratings & Bad Credit : How to Rent Despite Bad Credit
Landlords and apartment complexes are among the many businesses that use your score to decide whether or not let you borrow money or services. Bad credit can cause you to end up homeless, if you are looking in the wrong places.
Different landlords have different score requirements. Some might deny your rental application if you have blotchy financial history, even if you have a spotless rental history and a sizable salary.
If you are worried that a bad financial history will keep you from finding a place to live, there are other options you can exercise. The key to getting an apartment when you have bad score is finding a landlord that doesn't do credit checks.
Start by looking at an online classified listing. In the housing section of, apartment owners advertise rentals (apartments, condos, townhouses, and houses) they have available.
The classified section of your local newspaper is another place where property owners advertise for rentals. Sunday's paper usually has the most advertisements.
Many homeowners use real estate agents to rent their homes. Checking with real estate agents in your area might help you find an apartment, townhouse, condo, or house to rent.
As you inquire about an apartment, ask the landlord what criteria are used to approve tenants for the rental. If credit check isn't one of them, then you have one less thing to worry about.
However, if there is a credit check involved, you have some additional options for getting approved. Getting someone to vouch for your financial responsibility can help dampen the effect of negative entries on your report.
Contact people with whom you have had a financial relationship - previous landlords, your bank, current/previous employers. If you have past due accounts on your report, pay them off and get the bank or lender to write a letter stating the account has been paid in full.
Write your own letter explaining the situation that caused your financial problems to persuade the landlord to rent to you. Be careful about the situations in which you use letters of recommendation.
If a landlord is not aware of your credit history he may become unnecessarily suspicious when you hand him a letter explaining your past financial problems. Getting someone to co-sign your lease is another option.
Your co-signer will need to meet the necessary score qualifications. Keep in mind that if you skip out on your rent or get evicted for any reason, the landlord can legally go after the co-signer for the value of the lease.
Use other people's credit sparingly and be more careful with it than your own. Whether you are able to get around the credit check altogether or you get approved for an apartment despite your financial history, expect to pay more money upfront.
You might be required to pay a higher security deposit or several months of rent to move into your new apartment. If you do not have the best score and will be moving in the near future, start setting some money aside and begin looking for a new place as early as possible.
The sooner you start looking, the more time you'll have to prepare. A bad financial history does not mean you will not pay your rent on time.
Unfortunately, your report and score might tell a different story. Even though you can work around some credit checks, you often end up paying more than you would have otherwise.
That is why it is important to take steps to ensure your report matches your bill-paying habits. While paying rent by credit card has its advantages, it is not the best option for everyone.
If you have financial problems and do not want your rent caught up in it, you should pay with checks. If you have problems with credit card debt and have been paying your rent with checks, it's probably best to stick to it.
If you carry a balance on your card each month, you will face the temptation to have part of your rent carry over as well. The interest you'll owe on this amount plus the effect this practice will have on your score are strong reasons why it's probably not worth the switch. Related Renting With Bad Credit Issues
