Renting a home and credit reports advice

I am not sure if I understand your question correctly.

Federal law (US Code Title 15, §1681c) controls the behavior of credit reporting agencies. This law is known as the Fair Credit Reporting Act (FCRA). Under FCRA §605 (a) and (b), an account in collection will appear on a consumer's credit report for 7.5 years. The clock starts approximately 180 days after the date of first delinquency on the account. To learn when an account will be removed by the credit reporting agencies (TransUnion, Equifax, and Experian and others), add 7.5 years to the date of first delinquency. Subsequent activity, such as resolving the debt, is irrelevant to the seven-year rule. However, if the debt is a tax lien, that can appear for seven years from the date of payment. A bankruptcy will appear for ten years from the date of the final order. Delinquent federal student loans can be reported indefinitely, i.e., for as long as they are delinquent.

If you are referring to renting a house for which you have a mortgage that you owe, then the mortgage will definitely show up as debt that you owe on your credit report. Once you finish paying your mortgage, the account history will remain on your credit profile for 7 years or more.

If you are looking for new mortgage offers to buy your second home, Bills.com makes it easy for you to get quotes from different lenders to compare. You can apply at https://www.bills.com/homeloan/purchase/. If you enter your contact information, you can get quotes from as many as four different lenders.

I hope the information provided helps you Find. Learn. Save!

Best,

Bill

www.bills.com