TIMING. IS. EVERYTHING. | Rental payment histories may count in credit scores

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TIMING. IS. EVERYTHING. | Rental payment histories may count in credit scores

TIMING. IS. EVERYTHING. | Rental payment histories may count in credit scores

Well, now that Wall Street Hedge Funds are getting into the rental biz, profiting off the millions homes that were stolen, this will intimidate the renters living in these homes. Perfect timing, dont’cha think?

Florida Realtors-

Renters who have never made a late rent payment often find that their stellar record doesn’t do anything to lift their credit scores when it’s time to shop for a mortgage. But that may soon change: Two of the main credit reporting agencies, Experian and TransUnion, are reportedly starting to incorporate verified rental payment data into credit files and using it as part of a consumers’ credit score.

“At a time when record numbers of first-time buyers are missing in action in the home-purchase market – many of them in part because their credit scores don’t make the grade – the non-reporting of key credit records is costly to them and the economy as a whole,” The Columbus Dispatch reports.

[FLORIDA REALTORS]

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