04-10-2013 12:00 PM
So, turns out one of my conditions for my loan approval is a rental history. My previous landlord had to fill out the verification of rent form. I rented his house for 2 years and always made my payment by the 15th but his payments are considered late after the 7th. In the verification of rent form asks how many payments 30+ days past due and he indicates 0. But then makes a note that I was always late with my rent. What??? He refuses to send the form without his comment, my broker is trying to contact him but he is just hateful..... I think I'm giving up....
04-10-2013 12:14 PM
It does seem wrong I guess since it won't really hurt the landlord.
However some people take it seriously when they have to fill something out and sign their name to it. Plus landlords rely on similar information from other people when deciding whom to rent to so they expect it to be filled out truthfully. Not saying it's right or wrong, just seeing your landlords point of view.
Maybe he will come around. Good luck.
04-10-2013 12:42 PM
If he's not reporting any payments 30+ days past due, I don't think an UW will care. Maybe you'll get a request for a LOE.
LO needs to talk to the u/w
we are supposed to only care about 30 day lates.
i guess an u/w could cop an attitude.
write a letter of explanation to accompany the rent verif form
04-11-2013 05:15 AM
This is unfortunate.
Did your landlord charge a late fee for your payment being received on the 15th?
Why didn't you pay rent on the 7th, per the lease? Did you have a verbal agreement or discuss this with the landlord prior to renting the unit?
I am a landlord / rental property owner, so I can therefore see both sides to this issue. On the one hand, he is being asked to provide rental history verification, which you need to be able to get a house. On the other hand, you did not pay on time according to the lease agreement, which may have caused him hardships throughout those 2 years. However, he did not evict you, so he is complicit in your late payment behavior, especially if there was no late penalty fee for paying late.
I have a tenant who discussed having her payment due on the 15th, so that the payment worked better with her paycheck schedule. This would not create a hardship for me, so I made a minor adjustment to the lease, and added a clause in which if the tenant made 3 payments after the 15th, there would be an eviction.
She has only paid after the 15th once, in her 2 year rental history
04-11-2013 08:12 AM
Just heard back from my broker. They were able to talked him into sending the form again with no comments since I did not make any of my payments 30+ days late. These ppl are wonderful!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO