Major Credit Bureaus May Begin Reporting Housing Rental Payments

Historically, housing rental payments, as well as other types of payments, such as utilities and cable TV, have not been included in consumer credit reports. However, this may be changing according to an article by The Columbus Dispatch.

Two of the three largest credit bureaus, TransUnion and Experian, have already begun to incorporate “verified rental-payment data into credit files where it can be included in the computation of consumers’ scores when they apply for a mortgage.” It is suggested that adding non-traditional credit data on consumer files may help more potential first-time homebuyers qualify for lending. To read the full article, visit:  http://bit.ly/1z8Eg6v.

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