SAN FRANCISCO – Pay Rent, Build Credit and Prudential Action Real Estate have partnered to help consumers qualify to buy a house by using their renting history as proof of credit, the companies announced today at a press conference at Inman NewsReal Estate Connect 2004.

The two companies have put together a marketing brochure that Prudential Action plans to distribute both in English and Spanish to potential homebuyers in the New York City neighborhoods it serves. The brochure explains PRBC’s approach and how consumers can use their history of paying rent and other bills to buy a house.

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Annapolis, Md.-based PRBC is a national credit bureau that lets consumers establish and build a credit history with things such as rental payments, as homeowners do with mortgage payments.

PRBC’s Web site lets consumers enter their rent and other bill payment history for the past 36 months, at no charge. They then bring documentation proving their entries to a certified PRBC verification partner, such as Prudential Action. The partner verifies the self-entered information and PRBC then builds a “Bill Payment Score” based on consumers’ bill payment history. This score can be used to enhance the chances of consumers being approved for loans without the higher interest rates often charged to applicants who have little to no credit history.

Prudential Action Real Estate serves metropolitan New York.


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