Renters Bill of Rights rolled out by Biden

What happens when Hunter stops paying 50k a month to Joe, does this prevent eviction?

originally posted by: Creep Thumper

originally posted by: JAGStorm

originally posted by: Creep Thumper
a reply to: JAGStorm

When you become a landlord you assume risk, financial and otherwise.

Having compassion for the poor is not a Communist idea. It was Christian before it was ever Communist.

Exactly, so why would a landlord want to risk it on deadbeat renters?!!! This is not something the government should be involved with. Why on earth would a landlord want to rent to people with bad credit? That is literally saying these people are not responsible enough to rent, but the government is like, “oh let’s forget all about the credit score for you” but of course if you want a government loan, you better get ready for 200 pages and your firstborn.

Compassion goes both ways, what about the compassion for the landlord? Is it Christian to steal?

Not everyone who is poor is deadbeat. That is a very uncharitable characterization and a blanket statement.

absolutely agree with you and i feel for those that are barely making it. i have been there myself for a good part of my life.

however govt is a sneaky bastard doing the bidding of the lobbyists and majority of the time (especially within the last couple of decades) ,nothing they do is for the betterment of the regular folks .

this has the potential of leading to their goal of you will own nothing and be happy. meaning you Will be enslaved into the system for ever because you will never be able to acquire any wealth.

jag is absolutely correct saying the people barely getting by would be better off pushing for better wages .

where i live they just had this large conference for business owners struggling to keep employees due to the cost of living here.

they have all sorts of solutions like shuttling workers in and out from another town an hour away, or building low income ghettos for police,teachers, hospitality workers, construction workers, and nurses . the neat thing all their solutions are based on taking govt money to fix the issues .
none of the solutions mentioned , hey maybe we need to pay the workers we called essential and put on a pedestal during covid more .

the crazy thing is the local govt is nodding their heads yes we can do that versus calling those business owners out and saying sound like you need to pay your employees more. so don't look towards govt to be on your side especially when they say they are.

imo the poor and essential workers would be better off organizating and striking for better pay then counting on the govt to fix the cost of shelter.

My grandparents, now dead, used to own about 20 rent houses in the DFW area. They made crap loads of money this way. They were very fair landlords and their homes were immaculate. This was just a side biz. They always suggested to us grandkids to do the same. When they died, my mom sold all of the properties. I was super angry. But not my decision.

I considered, but never did. Thank God. I know of horror stories from people I know who own rentals.

YOU WILL OWN NOTHING AND BE HAPPY.

a reply to: interupt42

I assume every decision this clown car makes will lead to the WEF dream world.

Man will they be shocked when the useful idiots are no longer needed.

originally posted by: JAGStorm
If LANDLORDS have to accept people without a detailed credit history, or “alternative” credit score, then every single bank and government office should too, (of course they wouldn’t).

I’m not a landlord but if I had to choose between two people, a family with a great credit history or someone without one, why on GODS earth would I choose the one without one? Either we live in a country that uses credit scores or we don’t. This crap where they get to choose when and were credit scores are valid is pure Bunk!

I think I agree with everything you've said. There is one point I wish to ask about because I'm not very knowledgeable about credit scores.

I once had a car repossesed by the bank and ended up owing a little more on it because it didn't sell for enough to cover what remained on the loan. I owed somewhere under $200 on it still but my banker said "We'll figure out what the exact amount is and I'll get back with you." More than a year went by and I guess he must have forgotten about it, because I sure did. Then I went to try and get a house loan at the same bank and they denied me because they said I had a bad credit score. I asked what caused my bad credit score and they said it was the final amount owed on the car repossesion. The very next week, I went in and paid off the car loan - all $200 of it. They told me me it would take something like two months before it was reflected on my credit score. After the exact amount of time went by for it to affect my credit score, and they implied it should be an acceptable level afterwards, I went back to the bank to try and get that house loan again. I was denied because then they said I had no credit score whatsoever now! It was at "zero."

That doesn't seem to be a very good system. I mean, if one little $200 amount can ruin your credit score and then when you "fix" the problem and it makes your credit score go down to "zero," how can that be an effective or accurate way to rate somebody?

I have no credit card debt and I never have. That's because I've never had a credit card. I prefer to save up and buy something and pay it off all at once. I don't want to be in debt, because financially, that doesn't put me in a very stable position. But since I always pay my bills completely and I am not in debt, that makes me a bad credit risk - according to the "credit score" system. And you say, if you were a landlord, that you would rather rent to someone with a good credit score over someone who doesn't have a credit score? Why is that? It seems to me that a credit score isn't all it's cracked up to be, while, on the other hand, I'm someone without a credit score and who always pays his bills and is not in debt. In my opinion, I would rather rent to somebody like me than to somebody who's credit score is acceptable. If a person has a good credit score, that probably means they're in debt; making their income more tied up with lots more bills. That type of person is the type who files for bankruptcy a lot, while I personally couldn't file for bankruptcy because I have nothing to file for. The obvious reason is because I always pay my bills, no matter what. That makes me the best kind of risk. At least it used to. What changed?

What am I missing? Like I said, I don't know much about credit scores and thought you wou would have some insight about my dilemma. There must be an answer that's eluding me.

originally posted by: AndyFromMichigan

Ironically, the people pushing this are mostly the exact same people who are pushing social credit scores, so they can grade you on how politically popular your opinions are.

But they don't want people to be able to score you based on stuff like how good you are at managing money or holding down a job.

Great assessment! That seems to be totally true, at least in my experience.

Have a place to rent and then have someone live there for 2 years and not pay rent, and when they finally leave, they just go to another place nearby with zero repercussions for past rent due. There are two sides to this story, and it seems the Government wants to tell private citizens what they can sell or not sell.

originally posted by: TrulyColorBlind


I once had a car repossesed by the bank

That takes about 8 years to clean up, and it doesn't start until you paid off the owed amount. My sister screwed me 20 years ago in getting a car I cosigned repossessed, and it cost me 6k on a car that originally cost 8k. Not until the 6k was paid was my credit allowed to heal and it took 8 years after I paid off the 6k. Today I'm like 840, so it does heal over time. But think of it this way, your score determines your risk, and a good score means low interest because you are low risk. A poor score means very high interest rates because they are taking a high risk to loan to you, and they need that to offset in case you fail again.

a reply to: TrulyColorBlind

I have no credit card debt and I never have. That's because I've never had a credit card. I prefer to save up and buy something and pay it off all at once. I don't want to be in debt, because financially, that doesn't put me in a very stable position. But since I always pay my bills completely and I am not in debt, that makes me a bad credit risk - according to the "credit score" system. And you say, if you were a landlord, that you would rather rent to someone with a good credit score over someone who doesn't have a credit score? Why is that?

Very easy to answer.

If you were getting your teeth done, would you want a dentist with a license
Or one that does it out of a garage?

The one with the license has a track record. The one out of the garage, you can only guess. Now he could be BETTER than the licensed one, and cheaper, but you don’t know.

Credit history is like that. It shows you are responsible and able to use credit, which is what you are applying for. If you didn’t believe in it you would pay for your house in cash (I know different amounts)
Also from your story, you didn’t pay 200, small amount, but it was your responsibility, you forgot.
Where is the line, 200, 2000, 1 dollar.

I don’t think it’s a perfect system but if you know the system it’s very EASY to have a very high score.
There are rules and tricks. Use credit, but not too much.

originally posted by: Xtrozero
That takes about 8 years to clean up, and it doesn't start until you paid off the owed amount. My sister screwed me 20 years ago in getting a car I cosigned repossessed, and it cost me 6k on a car that originally cost 8k. Not until the 6k was paid was my credit allowed to heal and it took 8 years after I paid off the 6k. Today I'm like 840, so it does heal over time. But think of it this way, your score determines your risk, and a good score means low interest because you are low risk. A poor score means very high interest rates because they are taking a high risk to loan to you, and they need that to offset in case you fail again.

What you say seems to make sense to me. But the loan I got for the car was approved, so my credit score must have been acceptable then. But now that I have no loans to pay off, there is no interest rate at all on anything for me. How does that make someone a low or a high risk? I'm slow sometimes on the uptick and don't understand what you're saying here.

By the way, thanks for responding.

a reply to: TrulyColorBlind

I’m not a credit person but how much time elapsed from when you got the car reposed to you trying to get a home loan?
Perhaps also because it was repossessed it was listed as something else and didn’t count toward your score… Did you have any credit cards?

Also, don’t give up. Learn to work the system. Get a department store card. Start small but use it very wisely. Even if you have to charge 10 bucks a month, and pay it off, that will start building your credit.

originally posted by: JAGStorm
Very easy to answer.

If you were getting your teeth done, would you want a dentist with a license
Or one that does it out of a garage?

The one with the license has a track record. The one out of the garage, you can only guess. Now he could be BETTER than the licensed one, and cheaper, but you don’t know.

Credit history is like that. It shows you are responsible and able to use credit, which is what you are applying for. If you didn’t believe in it you would pay for your house in cash (I know different amounts)
Also from your story, you didn’t pay 200, small amount, but it was your responsibility, you forgot.
Where is the line, 200, 2000, 1 dollar.

I don’t think it’s a perfect system but if you know the system it’s very EASY to have a very high score.
There are rules and tricks. Use credit, but not too much.

First off, thanks for the time you took to reply to me.

As to the dentists, how did I hear about the one who works out of his garage? Probably from all my friends who went there and found out he does better work and charges less. So, I would use this information to help me choose and would end up going to the one in the garage. Ultimately, don't people want a better service at a lesser price? I certainly do.

And, "The one with the license has a track record." It seems to me that both dentists have a track record, but who's record do you go with?

Credit history certainly seems to be like everything you say it is. But wouldn't someone who had no credit debt to contend with every month and had all his money free to pay his bills be a more safer risk? That is, if you did a little research and found out from all his friends that he always paid his bills in full and never skipped out on any debts. A credit score won't show any of that. If it was my bank to run, I'd rather do a little more research on my clients and have less debt to write off because I only went by their credit score, which obviously doesn't cover the whole picture about said client.

You said, "Also from your story, you didn’t pay 200, small amount, but it was your responsibility, you forgot."

Am I the only one who has to be responsible? That doesn't seem right. My banker said he would figure out the right amount I owed and get back to me. That was his responsibility. He didn't do this, so I didn't know how much I owed. It was slightly less than $200, about $180, I think.

And this last thing you said makes me think you know what you're talking about, "I don’t think it’s a perfect system but if you know the system it’s very EASY to have a very high score.
There are rules and tricks. Use credit, but not too much."

For me, I think I'll just avoid using that system. The credit score system has not been berry berry good to me. (To paraphrase Saturday Night Live.)

Thanks for your response.

When I need a house loan, I've found out that the Veterans Administration gives very very low interest loans to vets like me and they don't use credit scores. Plus, my house now and all the property it sits on is surely worth something.

originally posted by: JAGStorm
a reply to: TrulyColorBlind

I’m not a credit person but how much time elapsed from when you got the car reposed to you trying to get a home loan?
Perhaps also because it was repossessed it was listed as something else and didn’t count toward your score… Did you have any credit cards?

Also, don’t give up. Learn to work the system. Get a department store card. Start small but use it very wisely. Even if you have to charge 10 bucks a month, and pay it off, that will start building your credit.

I gave you a star. Thanks for trying to help me!

As to your questions, About three years elapsed between getting the car repossessed and then trying for a home loan. My girlfriend at the time and I both owned our houses and neither was big enough for all three of us. She had a young daughter.

If the car was listed as something else and didn't count toward my score, why did it still affect my score? See, I don't understand all these things.

As to credit cards, I've never had a credit card. I didn't shape my life to include them as part of the picture. My life was never going to be about "keeping up with the Jones."

originally posted by: TrulyColorBlind

And this last thing you said makes me think you know what you're talking about, "I don’t think it’s a perfect system but if you know the system it’s very EASY to have a very high score.
There are rules and tricks. Use credit, but not too much.

"



Just having late payments is very bad to your credit rating. You need to not only pay everything but on time, so it isn't just bad events that will totally screw you over. You have a credit score, there is no such thing as zero unless you are in the failure to pay in full for the repossessed. I would check with the bank to make sure you are fully paid off. 20, 200, 2000, 20,000 doesn't really matter as to what you might have failed to pay back. There is also a debt to earnings ratio, so if you end up with a lot on credit cards that can hurt you too. My wife will pay my kids college on a card for the points and so I might put 40k on a card with maybe 200k limit on all cards and my credit score will drop 20 points on that alone, as example. Then it will go back up when we just pay it off.

originally posted by: Xtrozero
Just having late payments is very bad to your credit rating. You need to not only pay everything but on time, so it isn't just bad events that will totally screw you over. You have a credit score, there is no such thing as zero unless you are in the failure to pay in full for the repossessed. I would check with the bank to make sure you are fully paid off. 20, 200, 2000, 20,000 doesn't really matter as to what you might have failed to pay back. There is also a debt to earnings ratio, so if you end up with a lot on credit cards that can hurt you too. My wife will pay my kids college on a card for the points and so I might put 40k on a card with maybe 200k limit on all cards and my credit score will drop 20 points on that alone, as example. Then it will go back up when we just pay it off.

I thank you for responding to me, although you weren't talking about me.

I don't have any late payments. Because if I do, they shut off my electricity.

I had a zero credit score. That was a fact. The bank even looked it up and found it to be true. They looked pretty sheepish after having had told me how to get my credit score back up after that one knock which brought it down so low, due to them causing it, but when they looked into it had settled to zero.

I don't have a lot of debt on credit cards. As I have repeatedly pointed out, I don't have any credit cards and I never did. Therefore, a person can't rack up debt on credit cards. (Well, I guess if one were a credit card thief, they could steal somebody else's credit cards and rack up a big debt, but that's only a special circumstance that doesn't apply to me.)

I just think it's one of those things that can't be explained and why the credit score system doesn't work in some cases. Maybe a new system needs to be devised to replace it.

Or actually living out of your car. Or in a tent.
Or paying $300 for a tiny room in a share house.
Or living four in a two bedroom house at 260 each.

Or losing your house because some gobbler raises interest rates four times in a year and you can’t make the repayments you’ve payed for eight or nine years.

All anecdotal, I live on two days work a week and get payed well for my time, but I saw PLENTY off this during lockup and economic shutdown (or whatever the government reaction to That cruise ship that came to Sydney was called) Whole streets of household furniture dumped outside empty houses cause ya can’t pay, ya can’t stay.

Anything government is to enrich the politician or stroke their gnarled egos.

a reply to: Creep Thumper

a reply to: JAGStorm

Sounds like Communism. Good grief, O'Biden.

a reply to: TrulyColorBlind

I asked what caused my bad credit score and they said it was the final amount owed on the car repossesion. The very next week, I went in and paid off the car loan - all $200 of it.

Here is a fun fact:
You likely messed up when you paid that owed amount off after it already got into your credit history as a ding.

The issue when paying off bad credit is that it resets the counter for another 7 years (repossession may be more?). So lets say you had a bad debt in your report for that $200 5 years ago in 2018 . If you had waited for another 2 years till 2025 it would have automatically gone off your report. However , since you paid it off this year 2023 it will now stay in your credit report for another 7 years until 2030. Sure it will say paid off but it will still be a big hit against you and will now last for another 7 years. So lenders can now charge you more for loans for another 7 years.

1. Often times Its actually in your best interest to not pay an old bad debt in your credit report once it gets in your credit report. Once you make a payment it resets the clock . This is ofcourse depending on how long it got there and how much time you have left for it to go away and that you don't get sued for the debt.


I personally like it when you pay off your loans on time but then decide to pay it off early in full then you get automatically dinged as a negative hit for a couple months despite the fact that you not only paid on time every-time ,but you actually paid the whole loan off before its maturity date is due.

2. If you are going to make a big purchase requiring good credit and cant afford to lose any credit points then do not pay off anything in the same month or near the time you are applying for credit. If you want to pay off anything then pay it off a few months before you apply for the credit so your credit report gets adjusted properly. The minute you pay off a loan they will assume something bad happened and will have to wait 1 or 2 credit reports later to realize you just paid off your loan.


3. Don't close accounts and don't get all those credit cards being offered you to save 10% off. Despite paying off those credit cards in full and on time and you decide to close them they will ding you for it.

4. Always stay in debt. Get one credit card but keep the balance below 40% but not at zero. They like to see movement on your credit or they will ding you. I pay them off at the end of the month but still use them on a daily basis for points and to keep the credit usage active.

5. Medical credit dings are much lower than normal credit dings. Also some lenders don't even look at them like with fannie mae loans.


I have excellent credit but had my credit issue in my younger years and the credit system is a joke .

originally posted by: Dalamax
Or actually living out of your car. Or in a tent.
Or paying $300 for a tiny room in a share house.
Or living four in a two bedroom house at 260 each.

Welcome to much of the world. I have asked a number of times over the years when people push the narrative that all jobs need to be a living wage, I ask them what does that represent? I have yet to get an answer, but in this case of housing most of the world shares living space with others. Privacy is more of a privilege than a right, so one needs to figure out what can they afford, and it might just be 300 for just a room. I had roommates throughout my 20s and this was back in the 80s and finally around 35 I made enough to justify living on my own. Today I live in a rather big house that I will downsize when I retire as my wife doesn't want to clean such a large place with just the two of us now as my kids move on in life too. I live near Portland and looking I can see on the cheap side a 4-bedroom 1450 sq ft appt for 1600 a month. If a person cannot afford 400 per month for rent in 2023, they are doing something wrong in their life. Add in maybe a partner and that is 200 each for the room. Back in the 80s my rent was about 450 to 550 per month and pay back then was a hell of a lot less than it is today.

originally posted by: interupt42

I have excellent credit but had my credit issue in my younger years and the credit system is a joke .

There are parts that I too see as a joke. I had like my first credit card from a credit union for 20 years and it had a balance of like 400 bucks as I never used it. I closed it out and my credit score dropped...lol At one point when I wasn't looking at buying anything in the near future, I closed out a good number of them and took the hit and just waited for my score to go back up which it did within that year.

Outside of that there is a reason they need a system since there are more people willing to just not pay a loan than there are who are not only willing, but on time. I don't think I took any hit for paying anything off early as that is my normal operation with loans to get them and pay them off quickly. I think we use our Costco card for just about everything now and we keep a low amount on it by month's end.