bohouse Posted March 3, 2005 Report Share Posted March 3, 2005 My husband I decided to rent a home for a few years. We found one we love. What do you think the chances are that we will get it? We had to fill out a credit app. The owners have it listed to rent through a realtor, an outside man runs the credit and checks the rental history and employment. This man then gives his recommendation to the owners and it is the owners final decision.Credit scores range from 532 to 612. Bankruptcy Chapter 7 discharged one year ago. Since then no lates. One car payment always on time. One small credit card always on time. Rent for the past two years is always on time. Both employed making just over 3X the rent of the house.I wrote a letter detailing what happened and how much we have done in the past year to remedy it.....wrote about our great rental history, steady jobs, etc. etc.We are supposed to find out in 24-48 hours. I can't wait that long. Link to comment Share on other sites More sharing options...
Methuss Posted March 3, 2005 Report Share Posted March 3, 2005 I expect that you will get the place based on what you report here. Housing is a touchy area and there are plenty of laws they could run afoul of if they are not careful of how they decline to rent.The basics are:You can make the payments. It's not beyond your means.You have a record of making the payments on time for rent.You have no lates for the last 12 months.If you are declined, ask for a specific reason. They are required to give it to you under a number of laws. If they decline based on credit score, ask for the minimum threshold they require. Link to comment Share on other sites More sharing options...
bohouse Posted March 3, 2005 Author Report Share Posted March 3, 2005 Thanks. I actually asked the realtor before I even filled out the application what their bottom line credit score was and she said that they didn't go off of credit score....but, debt to income ratio and past rental history. But, I was curious if they would deny based on bankruptcy. Link to comment Share on other sites More sharing options...
Methuss Posted March 3, 2005 Report Share Posted March 3, 2005 Usually not. But they may ask for additional security deposit funds because of the BK. Usually the deposit on a fresh BK is 2 or 3 time the amount of a months rent. Link to comment Share on other sites More sharing options...
Sultan Posted March 4, 2005 Report Share Posted March 4, 2005 I feel like telling people when they run credit for the purpose of renting housing that I wan't to run their credit back at them, to make sure they don't flake out of not return a deposit or go slum, or get their property forclosed on me. That's the funkiest reason to run someones credit in the world. I.M.H.O.I once tried to give a free car away and the guy who came to look at it pointed out 5 things to pick it apart, some people have a brain dead concept of what it is to be alive and be human in this world, they think everyone owes them or they can power play anyone who enters their life.I think a good renters reference should go far, give em' my number i'll give you a 10 year always on time reference, J/K but seriously best of luck, I think you will get what your looking for, when you find a human being and there are a few left in the world, if this one doesn't work out. Link to comment Share on other sites More sharing options...
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