I have a question....for anyone out there that is either an investor or anyone that has investor clients..
I work with a real estate investor. He puts people in land contracts on homes and then we do the refinance after they have been in the home for a year.
Our investor would like to be able to start reporting his tenants pay history to the credit reporting agencies. In doing this, the pay history will show on the credit report and we should no longer have to provide 12 months cancelled chacks to the lenders to prove rent history.
Can anyone provide me with some information as to how our investor can get signed up with TransUnion, Equifax and Experion so that he can start reporting his tenants pay history to the credit bureaus.
I have contacted these credit agencies without a whole lot of luck as of yet... Their websites are not much help either...which amazes me since you would think that these companies would make this information very obvious to potential customers that would like to use this service.
Any help on this...???