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Updated over 5 years ago on . Most recent reply

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Max T.
  • Investor
  • Philadelphia, PA
3,342
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3,930
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Screening Question for multiple unrelated

Max T.
  • Investor
  • Philadelphia, PA
Posted

3 unrelated young adults, only a few years out of college.

One couple and their friend.

This is a 2 bedroom house.

Combined incomes are fine, but remove one from the total and they will be strapped for cash.

So I request cosigners. I get one from the friend's dad -  it is excellent.

But I really want one from a parent of the boyfriend or girlfriend. So I ask for it and get it.

But this one is not good. Background is fine but it shows a long history of not paying debts. Previous delinquencies written off as losses and one currently 6 months behind (large debt sum and large monthly payment). Needless to say I am not any more assured by this.

So I am asking for a 3rd cosigner from the last tenant. Is this crazy/over the top? 

Additional info: property is priced aggressively towards the top of the market based on its location and condition. I've had a lot of showings but this has been the only application so far. The neighborhood is very desirable but this house is on a small side street and it is nothing fancy. Previous tenants were there for 5 years, so the turnover was not the cheapest (full repaint, deep clean, various small repairs).

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