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What's the next step once they determine I'm eligible? Given my low log number, will they reserve the unit for me until my eligibility is confirmed?
I suppose what I'm asking is, once they've confirmed my income level, what other criteria do they consider? I still feel like I'm in the early stages of the income assessment process
What's the next step once they determine I'm eligible? Given my low log number, will they reserve the unit for me until my eligibility is confirmed?
I suppose what I'm asking is, once they've confirmed my income level, what other criteria do they consider? I still feel like I'm in the early stages of the income assessment process
From what I’ve read, you should be fine. Higher log numbers in your AMI may get through the income process quicker, but I don’t believe they would give all the units away before your eligibility is finalized.
I have a question. If you do a credit review, what if your credit isn't high enough at the time? And if you do have 12 months of rent statements, it would need to be from where you are currently residing or your former residence? ( I know silly question but there's a reason.... what if you are staying with someone?)
I have a question. If you do a credit review, what if your credit isn't high enough at the time? And if you do have 12 months of rent statements, it would need to be from where you are currently residing or your former residence? ( I know silly question but there's a reason.... what if you are staying with someone?)
search the forums and this answer has been answered many many times. look up the HPD marketing guide that helps clarify HPD Guidebook
In short, the credit score is not all they look at, a score over 580 means you won't have a secondary review, if a score is below 580 then they look at the total amount of delinquent debt. It should be below $5,000 in total, Medical debt or student loan debt isn't included in that.
If your score is below 580 and you have total current delinquent debt you're better off doing 12 months rent statements, residence should not matter, as long as you can prove that over the last 12 months, you made timely payments to whoever your landlord was.
If you have bad credit <580 and delinquent debt >$5,000 and don't have 12 months' proven rental history payments you're going to be SOL
search the forums and this answer has been answered many many times. look up the HPD marketing guide that helps clarify HPD Guidebook
In short, the credit score is not all they look at, a score over 580 means you won't have a secondary review, if a score is below 580 then they look at the total amount of delinquent debt. It should be below $5,000 in total, Medical debt or student loan debt isn't included in that.
If your score is below 580 and you have total current delinquent debt you're better off doing 12 months rent statements, residence should not matter, as long as you can prove that over the last 12 months, you made timely payments to whoever your landlord was.
If you have bad credit <580 and delinquent debt >$5,000 and don't have 12 months' proven rental history payments you're going to be SOL
i have a log number of 1XX with ME pref and have not been called.. what gives?
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