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what do they look for?

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what do they look for?

Postby Mina » Tue Apr 29, 2003 6:10 pm

i am looking to move out on my own.i don;t have stellar credit and i wanted to know a couple of things.
what do they look for in a credit check?
i've heard someone say that they don't care about how bad the your credit is but they do look for judgements and evictions. what are judgements?
my current credit situation isn't the best but i have been working out a payment plan and have disputed with the credit reporting agancies about things on my report and won. would i still have a chance at getting an apartment?
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Re: what do they look for?

Postby Chimera » Tue Apr 29, 2003 9:53 pm

If your credit rating isn't that good, make sure you explain your current situation and try to illustrate how you have been improving your credit. It might be harder to find a place with lousy credit, but if they see you are trying it will give you a better shot.
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Re: what do they look for?

Postby Cranky Tenant » Wed Apr 30, 2003 8:46 am

This varies according to what kind of place you want to move to. If you;re thinking of buying, I would magine the credit requirements are considerably higher than if you're planning to rent.

Some realtors seem to want an income that 40 or 42 times the monthly rent. If your income or credit report isn't up to their requirements they could ask you get a co-signer who will guarantee the rent.
I'm a cranky tenant NOT a cranky lawyer.
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