Hello! Does anyone have experience renting to a recently divorced person and evaluating their credit report?
The person's score is 670 and they do not have a history of late payments however the total monthly payments they have equals about $2500 (not including the mortgage, the spouse is keeping the house). They bring home $4k after tax and rent is $930. Some of the debt is their student loans, some are credit cards which some says the person is an authorized user on the account and then there are 2 auto loans. The person says the divorce will be final in January.
Any advice? Seems like a lots of bills but I would think they spouse is paying some of them but I guess there is no way to prove this.
Is the fact that they do not pay late good enough to accept them considering the monthly payments or are they too risky?
They bring home 4K after tax, they have monthly payments of $2500 + mortgage and rent is $930.
This means after monthly expenses you know of they have $500 to pay the mortgage and all other new expenses on the rental plus food.
I would never accept this applicant.