HFP 0 Report post Posted October 11, 2011 What criteria do you use to deem a potential TB qualified? Credit report, income, employment history etc.? I would appreciate hearing how everyone goes about determining the potential TB. Thank you for your time. Chad Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 11, 2011 Chad, you asked and answered your own question. Share this post Link to post Share on other sites
HFP 0 Report post Posted October 11, 2011 Chad, you asked and answered your own question. MC,Are you looking for a particular score on the credit report? If so, what is the score? How are you qualifying based on the income? Thank you Chad Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 11, 2011 I'm not looking for a specific score. I'm more interested in looking at the overall report and then talking to the applicants to hear their story with regards to any negatives. For example, did an illness cause him to fall behind on credit card payments? Did his company fail and he laid off as a result? Divorce? Etc.All these things can happen and create havoc in someone's financial picture. I'm not comfortable relying on cold, hard numbers to judge someone. Share this post Link to post Share on other sites
HFP 0 Report post Posted October 11, 2011 I'm not looking for a specific score. I'm more interested in looking at the overall report and then talking to the applicants to hear their story with regards to any negatives. For example, did an illness cause him to fall behind on credit card payments? Did his company fail and he laid off as a result? Divorce? Etc.All these things can happen and create havoc in someone's financial picture. I'm not comfortable relying on cold, hard numbers to judge someone. Thanks MC, I understand what you're saying. What about their monthly income? Should their rent be a certain percentage of their monthly income? Thanks Chad Share this post Link to post Share on other sites
MichaelC 160 Report post Posted October 11, 2011 That depends upon their other debt obligations, obviously. For example, if they are burdened with heavy credit card debt and a car payment, the amount of rent they could afford would be less than if they were debt free. Use your good judgement and, very important if doing a CA, let the homeowner make the final decision. Offer your opinions if asked, but I always leave that call up to the homeowner. Share this post Link to post Share on other sites
HFP 0 Report post Posted October 11, 2011 That depends upon their other debt obligations, obviously. For example, if they are burdened with heavy credit card debt and a car payment, the amount of rent they could afford would be less than if they were debt free. Use your good judgement and, very important if doing a CA, let the homeowner make the final decision. Offer your opinions if asked, but I always leave that call up to the homeowner. Thanks for your help! Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted October 11, 2011 As the above, I am also wanting to know Criminal History. Share this post Link to post Share on other sites
HFP 0 Report post Posted October 12, 2011 As the above, I am also wanting to know Criminal History. Jonathan, Are you simply asking them about their criminal history (ie on the lease application) or are you somehow checking it out? Chad Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted October 12, 2011 It is on my application if they have been convicted of a felony within the last 10 years. If so what was it. Depending on the degree and how soon it was, it is a judgment call. Such as a sexual offender....etc Share this post Link to post Share on other sites
HFP 0 Report post Posted October 12, 2011 It is on my application if they have been convicted of a felony within the last 10 years. If so what was it. Depending on the degree and how soon it was, it is a judgment call. Such as a sexual offender....etc Jonathan, Thanks for sharing! Chad Share this post Link to post Share on other sites
