Keza hehe asked:
i just wanted to know if you have a bad credit rating what happends when you need to rent? can you still rent a house if you have bad credit? what happends?
http://1mortgagecalculator.info
i just wanted to know if you have a bad credit rating what happends when you need to rent? can you still rent a house if you have bad credit? what happends?
http://1mortgagecalculator.info
Well for that you should see
OR
answers.yahoo.com
Renting is your only option, but most likely it won’t be a nice house or apartment…. My boyfriend’s idiot sl*t sister and her boyfriend have horrible credit and their apartment is basically a 3 bedroom box with doors and roaches included because the owner doesn’t do credit checks.
You shouldn’t have a problem to rent a house as long as you pay a certain amount of deposit & submit some documents that the landlord require.
This article has some good advice on credit:
I am in the same boat. I have been overseas for some time and wish to come back home to Australia, but i am worried if i can’t even have a place to live because i still have bad credit record including clear out listing because the lender couldn’t contact me overseas for 3 years.
I heard that you need to pay off all your debt first and then after that there is a 7 year bad credit record and after that you can start fresh again.
I heard if you don’t pay off your debt at all, your credit record will never expire even after 7 years. It will be in your record for the rest of your life unless you change your name.
You could go into a share accommodation, that’s what i am going to be doing for the next 7 years if i cant qualify to rent my own place because of my bad credit record.
Or go into share accommodation, quickly pay off your debt and after that start saving some cash deposit and get into the Rent to Buy home program.
They will accept you even if you have bad credit record but you need to pay more money on deposit and a higher interest rate. But it’s better than sharing a place with someone for 7 years until your credit record is brand new.
This way you have a place of your own and privacy and dont need to worry about not qualifying for just renting.
Someone here please correct me if I am wrong with this. I need some advice too.
Some owners run credit checks if they are wise and others do not. You need to let the person know what type of problems you are having and start to correct those problems. This will help your chances.
Most landlords expect that prospective tenants will have credit issues. That is why they are renting and not buying.
However, they will look in particular at your recent history. Are you paying your current bills in a timely manner? Do you have a lot of collections? Are you improving your credit or have the bad habits of the past continued into the present? Do you have evictions on your report?
They may call your past two landlords and any other references that you give. What is your income? If the rent is about one-third of your income and everything else checks out you may be able to rent a decent place.
Be up front with potential landlords. If they are experienced they have seen and heard it all. The truth will come out when they do their due diligence and so it is best to be truthful.
Usually this means you will be living in the rough side of town.
It really depends on why the credit is bad. Most of the time it simply means you are a dead beat, you refuse to pay bills. However, if you became ill and they are medical bills, as opposed to voluntarily over spending, private landlords may overlook your credit. Many are over looking foreclosures if your other credit and previous credit was reasonable.