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Chancy949

VA Loan Pro's and Con's

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you don't. You can get a letter from your landlord saying that you have paid $XX.XX for so many months, and give it to your mortgage broker, but it will NEVER go on your credit report. If you find away I'd LOVE to know. Collection agencies claim that they MUST report your bad debt because it is the only way to show a lender your potential credit risk. and to not report doesn't show the whole picture. this is BS. because let me tell you, You could rent for 2 years and have a perfect pay history. It will NEVER report. If you move, and don't give a 30 day notice, that balance WILL be reported. HOW is that fair? how does that show a true and accurate credit risk? It doesn't. Sorry for the rant, this is just my pet peeve with the credit reporting system.

I have not tried it, but there is a service which will report your rent, for a yearly fee. It costs $90 per year to report your rental history just like any other TL. There are some threads about it on this board:

http://debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=25276&highlight=rent+reporters

Best of luck with the loan! My husband and I are in the middle of me fixing up his scores because we are trying to see if we can get a loan to buy our first home. :)

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here's another one

http://www.positiverentreporting.com/

I stand corrected if this work!!

Even better! My husband and I can both sign up for less than the cost of the other one (each individual needs to do it separately I believe). Thank you for sharing that one, because I think we will try using the service, and the backdating your rental history up to three years is perfect.

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Well actually, now that I see their website a bit more, I decided to post a question on their forum, because I'm wondering about their set up fee, and also how does a rental tradeline appear. What is it categorized as, because this can impact how it affects your score (besides it showing your rental history). KWIM? Hopefully they respond promptly.

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I'm going to do it too. for both DH and I. Let me know how much it improves your scores!

how much is the other one?

Rent reporters I believe is $90, but I did not see if there are any additional "set-up" fees or such. Something seems kind of sketchy about the positive rent reporting site....in the round-about manner they answer questions and how they are making every answer they give to people on the forum sound like a cheesy ad with lots of !!!! and "you'd be silly to wait!!!" :roll:

We'll see. I want them to show me what it actually reports as first, before I sign up. I believe them that they do report your rent, but as to how accurate they actually are in keeping up with it, and this is one answer they gave on the forum which doesn't exactly sound very "normal". I mean, they call me to see when I paid? I could lie every month then, that sounds scam-y.

How does it work every month?

What we do is after you sign up, we verify with your landlord that you rent from them. Then every month we give you a call to ensure you sent off the check. Then we report you POSITIVE to the bureaus. It's that easy.

I'd trust them more if they sounded a bit more professional, but I'll see what they tell me.

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