It is difficult for reduced-revenue renters to go up if they never have a credit rating, so HUD is looking at techniques to report on-time lease payments to credit organizations.
WASHINGTON – A reduced credit rating or even non-existent (invisible) credit rating can limit housing choices and work opportunities simply because landlords and residence administration teams on a regular basis use credit checks to vet prospective tenants and many companies do credit checks as part of their selecting selections.
To enable reduced-revenue households get credit scores, the U.S. Division of Housing and City Progress (HUD) and the Policy and Financial Investigation Council (PERC) conducted a initial-of-its-type analyze. It uncovered that if the lease payments of HUD-assisted households are reported to credit reporting companies, many of these homes would stop being ‘credit invisible.’
The joint analyze, “Potential Impacts of Credit rating Reporting Public Housing Rental Payment Info,” appeared at rental details