Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Credit is a MAJOR determining factor. if your credit is really bad they will likely not approve you - really bad meaning major debt like more than 5,000 or bankruptcy or long term delinquency. They do allow guarantors tho so as long as you have a good one & ok credit you should be fine.
everything else, i dont really know.. i would just keep calling & asking them. good luck
I dont think they should allow guarantors. The program says you need to show in the past and the future that you are able to sustain yourself independently in leasing an apt. Having a guarantor doesnt seem to fit that but Im not the one making the decision. Good credit does matter and its a major tool used to deny or accept an applicant. There are thousands of applicants in need of an apt and the ones who meet the guidelines of good credit should be looked at more favorably than ones who dont.
I dont think they should allow guarantors. The program says you need to show in the past and the future that you are able to sustain yourself independently in leasing an apt. Having a guarantor doesnt seem to fit that but Im not the one making the decision. Good credit does matter and its a major tool used to deny or accept an applicant. There are thousands of applicants in need of an apt and the ones who meet the guidelines of good credit should be looked at more favorably than ones who dont.
they allow guarantors because credit is complex. "good" credit can actually mean you have no credit, because you dont have any debt. this does not prove that you can manage your credit it just means you seem to be in good standing because you haven't mismanaged debt. whereas "poor" credit can be someone who lost their job at one point and couldn't pay their debts, but have since gotten back on their feet and manage their debt well. since all activity stays on your credit report for 7 years, the bumps in the road from the past will still have a negative effect on your score for a while. and everyone is not offered the opportunity to have a guarantor. If someone had fair or average credit they would probably be allowed to have a guarantor, whereas someone with really bad credit will likely just be rejected. Sometimes, someone who has technically "good" credit because they have no debt history on their report will need a guarantor because they do not have a lengthy enough history. All of the applicants other eligibility factors are also taken into account, if all of their documents and everything are in order, they would allow them the opportunity to have a guarantor. they're not just letting any and every person who applies have a guarantor. and needing a guarantor doesn't necessarily show that you arent responsible enough to sustain yourself independently, its just a way for them to guarantee they'll get their rent.
they allow guarantors because credit is complex. "good" credit can actually mean you have no credit, because you dont have any debt. this does not prove that you can manage your credit it just means you seem to be in good standing because you haven't mismanaged debt. whereas "poor" credit can be someone who lost their job at one point and couldn't pay their debts, but have since gotten back on their feet and manage their debt well. since all activity stays on your credit report for 7 years, the bumps in the road from the past will still have a negative effect on your score for a while. and everyone is not offered the opportunity to have a guarantor. If someone had fair or average credit they would probably be allowed to have a guarantor, whereas someone with really bad credit will likely just be rejected. Sometimes, someone who has technically "good" credit because they have no debt history on their report will need a guarantor because they do not have a lengthy enough history. All of the applicants other eligibility factors are also taken into account, if all of their documents and everything are in order, they would allow them the opportunity to have a guarantor. they're not just letting any and every person who applies have a guarantor. and needing a guarantor doesn't necessarily show that you arent responsible enough to sustain yourself independently, its just a way for them to guarantee they'll get their rent.
Maybe if there werent so many people applying. But, if your credit is not good enough to be able to obtain an apt today on your own standing, then you should not be allowed a lottery apt. However, that doesnt mean you cant work on getting credit or getting a better credit score in the future and reapply to lottery apts at that time when you are more appropriately ready to do so.
Maybe if there werent so many people applying. But, if your credit is not good enough to be able to obtain an apt today on your own standing, then you should not be allowed a lottery apt. However, that doesnt mean you cant work on getting credit or getting a better credit score in the future and reapply to lottery apts at that time when you are more appropriately ready to do so.
a guarantor is not a free pass that says if you have bad credit you'll get an apartment as long as your guarantor is in good standing. its an insurance policy on account of the developer just to be sure they will receive their rent. like i said they aren't choosing people who have fair credit + a guarantor over people who have good credit. credit is complex, this is why they look for major red flags on credit reports, and interviews are conducted so they can check each person's background. if credit score was the only determining factor they wouldn't ask for everything else they ask for. even tho guarantors are allowed, they're not just accepted for everybody. someone who qualifies to have a guarantor probably has A+'s across the rest of the board of eligibility, they're not just gonna deny them because their credit isn't perfect. But like i said, they have to have decent credit, not bad credit. a person who has perfect credit isn't more qualified that 1 who has decent credit - because different factors determine credit.
a guarantor is not a free pass that says if you have bad credit you'll get an apartment as long as your guarantor is in good standing. its an insurance policy on account of the developer just to be sure they will receive their rent. like i said they aren't choosing people who have fair credit + a guarantor over people who have good credit. credit is complex, this is why they look for major red flags on credit reports, and interviews are conducted so they can check each person's background. if credit score was the only determining factor they wouldn't ask for everything else they ask for. even tho guarantors are allowed, they're not just accepted for everybody. someone who qualifies to have a guarantor probably has A+'s across the rest of the board of eligibility, they're not just gonna deny them because their credit isn't perfect. But like i said, they have to have decent credit, not bad credit. a person who has perfect credit isn't more qualified that 1 who has decent credit - because different factors determine credit.
I know what a guarantor is. And, if you should need one, you are not qualified to sign a lease on your own. The guarantor has to sign the lease as well as the tenant. Obviously, the landlord has doubts about the tenants qualifications to pay his or her rent and is requesting the tenant provide a guarantor to obtain the apt. Unfortunately, the applicant should be disqualified as he or she is not able to show independence at this time and thus can begin to make the necessary changes to be able to qualify in the future. Hey, there are thousands of applicants and it has to be narrowed down to just 100 or so.
I know what a guarantor is. And, if you should need one, you are not qualified to sign a lease on your own. The guarantor has to sign the lease as well as the tenant. Obviously, the landlord has doubts about the tenants qualifications to pay his or her rent and is requesting the tenant provide a guarantor to obtain the apt. Unfortunately, the applicant should be disqualified as he or she is not able to show independence at this time and thus can begin to make the necessary changes to be able to qualify in the future. Hey, there are thousands of applicants and it has to be narrowed down to just 100 or so.
welp, the American credit system allows for guarantors and cosigners alike and you can get loans, cars, and even lottery apartments with them
welp, the American credit system allows for guarantors and cosigners alike and you can get loans, cars, and even lottery apartments with them
You are not telling me anything I dont know. And, this isnt about the american credit system. This is about a lottery apt. program in which the landlord is not required to accept a tenant with a guarantor and should not be able to accept a tenant that needs a guarantor as there are hundreds if not thousands of other applicants that qualify in every way. In the lottery, there is more demand than supply. When you speak of loans and cars there is more supply than demand so the seller wants to be able to sell you in any way they can even if you need a guarantor. Its two different scenarios.
You are not telling me anything I dont know. And, this isnt about the american credit system. This is about a lottery apt. program in which the landlord is not required to accept a tenant with a guarantor and should not be able to accept a tenant that needs a guarantor as there are hundreds if not thousands of other applicants that qualify in every way. In the lottery, there is more demand than supply. When you speak of loans and cars there is more supply than demand so the seller wants to be able to sell you in any way they can even if you need a guarantor. Its two different scenarios.
they dont accept guarantors just for the heck of it. of thousands of people at least half of them probably could use the extra cushion of a guarantor. and they only accept them in certain cases. maybe you should tell them how you feel tho.
You are not telling me anything I dont know. And, this isnt about the american credit system. This is about a lottery apt. program in which the landlord is not required to accept a tenant with a guarantor and should not be able to accept a tenant that needs a guarantor as there are hundreds if not thousands of other applicants that qualify in every way. In the lottery, there is more demand than supply. When you speak of loans and cars there is more supply than demand so the seller wants to be able to sell you in any way they can even if you need a guarantor. Its two different scenarios.
Hi midtwnwst,
There are lots of us who had great credit, then lost jobs, then lost homes and couldn't pay any bills. Me personally, had great credit, became disabled and had no income for 2 1/2 yrs, just food stamps and stayed with family. I couldn't barely take care of myself, so how could I pay bills? I now receive disability and need a place of my own to live. Should I be discriminated against because my credit has been ruined by my disability? I have worked since I was 13yrs old and now am 60. If they say I need a guarantor I have people who will back me because they know what I have been through.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
