Rent history or credit check (Adams: apartment, bad credit, student loan)
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Good Evening, im writing this thread because i was selected for an apartment & opted for 12 months rent payments && i feel like they are trying to pressure me into a credit check. i gave all the documents that was required & they are trying to find a reason to deny it … has anyone even been through this ?
i submitted a rent affidavit rent receipts for cash payments deposits && rent ledger.. i don’t understand ehat the problem is and they are not being clear about what they want and what the issue is ..
I would call HPD. They are required to allow you to give proof of the last 12 months of on time rent payments instead of a credit check. I don't think there are any exceptions to that rule.
Does anyone know, if I do a credit check - can I use the same credit check for another building? Do I get a copy of it?
You are legally entitled to a copy for your records. Each lottery may have different requirements for document validity, so be sure to check the specific guidelines for the lottery you are applying to.
Some may accept documents up to 60 days after their issue date, while others may only accept documents within 30 days of issuance. You can confirm with the marketing agent to see what is acceptable to them and take it from there.
Just an FYI... if you opt for the credit check, here are the requirements to be approved:
"Any score over 580 is an automatic pass. If your score is 580 or below, you will only be rejected if you have open or unsatisfied delinquencies exceeding $5000 in total. Delinquent balances due to medical or student loan debt will be excluded from total.)."
In my case... while my score is over 580, I didn't want to risk it, so I opted for the proof of rent payments and was approved. HPD approval came through in 3 days.
Just an FYI... if you opt for the credit check, here are the requirements to be approved:
"Any score over 580 is an automatic pass. If your score is 580 or below, you will only be rejected if you have open or unsatisfied delinquencies exceeding $5000 in total. Delinquent balances due to medical or student loan debt will be excluded from total.)."
In my case... while my score is over 580, I didn't want to risk it, so I opted for the proof of rent payments and was approved. HPD approval came through in 3 days.
What is the source on this? I don’t recall that text from the marketing handbook. Is this specific to a marketing agency or property?
As I recall, credit scores were removed along with interviews. A credit report check, however, does have debt limitations outlined in the handbook. NB: I chose credit report, not rent history.
What is the source on this? I don’t recall that text from the marketing handbook. Is this specific to a marketing agency or property?
As I recall, credit scores were removed along with interviews. A credit report check, however, does have debt limitations outlined in the handbook. NB: I chose credit report, not rent history.
I suppose it can differ amongst each marketing agent, but that quote was directly from MGNY when I was being processed for Brooklyn Tower.
In the 2021 marketing handbook, there's only one mention of credit score--and no guidelines for using it as criteria. In September 2023, credit scores were barred per Mayor Adams for anyone with a housing voucher / subsidy.
The changes to the impact of bad credit scores has been discussed here before, like here in 2019. Statistically speaking, many people needing affordable housing likely also have debt and/or poor scores.
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