Places in Franklin Area
Posted in the Franklin Forum
#1 Oct 15, 2012
Looking for a place in the surrounding Franklin area. 2-3 bedrooms,(preferably 3) and more than one bathroom. The place must be pet friendly, we have a cat and rent must be between $500-$650.
We are interested in Blackberry Ridge, but we are also interested in any homes for sale that have owners or landlord who wouldn't mind a "rent to own" type deal.
If you know any places please let us know!:D
#2 Oct 16, 2012
A bit of advice: DO NOT get involved in a rent-to-own deal. Those deals almost never work out well for the tenant. You'll probably have to put some hefty money up front and if you don't go through with the deal (at some price the landlord chooses), you'll lose that money. You would be better off renting the house, saving up your money, improving your credit score, then buying the house that is right for you in the future. Don't relinquish control over your money and your future to some unknown landlord. Housing prices are not likely to skyrocket any time soon, so take your time to save and investigate so you can get the best deal for your family.
#4 Oct 16, 2012
I rent to own I really like the deal I'm getting I did pay 3000.00 down and did agree with the price which was below appraised value love myth house and my credit score is getting better
#5 Oct 16, 2012
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#6 Oct 17, 2012
I hope it works out well for you. It works for some people, but not many. In many cases it's an opportunity for a landlord to take advantage of a tenant who is not very savvy about real estate transactions.
If your credit score is getting better, it is probably not because of the rent-to-own that you are doing. Most landlords would not report this to a credit agency.
There may be other reasons that your credit score is improving -- including the fact that the older a negative item gets, the less bad affect it has on your score. Also, the older that good ongoing accounts (like credit cards) are the better affect they have on your score. So it might just be a matter of time marching on that is improving your score.
Good luck with your house.
#7 Oct 20, 2012
Carrie- Just curious, because Im trying to improve my credit- is it true that you can send a dispute letter via certified mail to Equifax, etc & they have to prove why its accurate within 30 days or it gets removed? Also, Ive gotten some small loans & pd them on time in an effort to have some recent positive things on my report, and all negative are prior to those. Other than that, do you have any suggestions on things I can do? Thanks in advance(:
#8 Oct 20, 2012
Yes, it is true that you can dispute incorrect items on your credit report -- but you have to dispute a particular item and explain why you think it is wrong. You can just send them a letter telling them to prove everything.
Here is info on how to file a dispute, with a sample letter.
If you really do see some errors on your report, you really should dispute them.
I assume that you have already handled the previous negative items with a bankruptcy or paying them off. If not, that is your first order of business. Many creditors or collection agencies will settle for a much smaller amount than you owe. Try in the range of 10 to 30 percent. They'll settle because they know that something is better than nothing, and if you file Chapter 7 bankruptcy, they will get nothing. Some collection agencies buy old debt for literally pennies on the dollar (perhaps 5 cents for each dollar you owe). That is why a collection agency may settle for so little money. You don't need a "debt management" company to do this. You can do it yourself. It just takes some time on the phone and some persistence.
Getting the small loans and paying them as you have already done should help raise your score. Getting a credit card is probably even better, because a credit card shows continuing activity.
Start with one credit card (not a prepaid card and not a debit card). Try Capital One. They offer a range of cards. They will tell you which one they will offer you. Even if you have to get a secured card (one where you have to put down some money), that is OK. You'll get that money back after a while of paying them on time. There may be an annual fee ($29?). They will report all your payments to the credit bureaus.
Don't charge any more than 1/4 of your credit limit on your card in any one month. Then pay it off as soon as the bill comes in. It's a good idea to use your card only for gasoline. There isn't much temptation there and you can use it for a small amount every month.
I know someone who started with a $300 secured Cap One card after a bankruptcy. In about 5 years she had a $6,000 credit limit and a score of 838.
Also, see my recent posting on the Blackberry Ridge Apaertments (sic) thread.
Good for you for trying to improve your credit.
#9 Oct 20, 2012
Typing error in the first paragraph: You CAN'T just send them a letter telling them to prove everything.
Sorry, my fingers were getting in the way of my typing.
#10 Oct 22, 2012
Carrie, Thank you so much for the info! It's refreshing to have an intelligent convo on here w/out derogatory comments. The main discrepancies are from my bankruptcy, things that should say included in bankruptcy are still showing as open debt. There are a few others, of course, but mainly the bankruptcy is where the issues are. Again, thank you!!!
#11 Oct 22, 2012
You're welcome. Sounds like you're well on your way toward a better life.
Sometimes it takes a a few months for the status to change on accounts cleared with bankruptcy.
If it has been longer than that, definitely send all three credit agencies a dispute letter on each account that is wrong. You should probably also send one to each creditor whose info is not correct.
This may mean a lot of letters, but it will be worth it.
Going through bankruptcy is enough of a pain, so now is the time to take the final steps to get it all straightened out.
#12 Oct 25, 2012
My Mom currently "rents-to-own" she pays $600 a month but at any time she can call her landlord and tell him she's ready to buy the place.
There's a cute house a few roads down from me that is for sale that I would love to buy, but we can't afford a house; that's why I was asking about "RTO" but oh well..
What about Layne Apartments? My Nan lives in one of them and I like it, but it's not what we're looking for. Do they have two stories, or just one story? How many bedrooms?
We have a lot of searching to do when he comes down next month to visit, so it's going to be difficult, but ANY information/advice is helpful!(Also, my Mom doesn't want me moving to Bowling Green.)
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