This week on the REAL Collective Podcast Sean and Kyle are discussing rent as credit: who gains, who loses?

Kyle begins by discussing an article about the Federal plan to count rent payments toward credit scores. The discussion begins by highlighting the small group of tenants who may not benefit from this initiative and explores why some might oppose it. However, the hosts emphasize the positives, explaining how many tenants could use this as an alternative to building credit through loans and credit cards and use it as a path towards home ownership.

Midway through, the conversation shifts to one of our trusted partners, PB Law. Co-founded by Puneet and Bonny, PB Law prioritizes your transaction, offering top-notch legal representation. To learn more about their services, visit: puneetbadhwar.com.

In the second half, Sean and Kyle delve into refinancing options in today’s mortgage market. They discuss how some homeowners with fixed-rate mortgages might benefit financially by breaking their terms to secure better rates, potentially increasing their net savings.

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Sean: https://calendly.com/seanrealcollective

Kyle: https://calendly.com/kmmortgage/phone-connect

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Intro (0:00)

Discussing the Federal plan that would count rent toward a credit scores (1:15)

There is no central repository for tenant’s information (2:50)

There’s a balance to be struck (5:30)

For a small section of the tenant population – this would be detrimental (6:00)

The flip side (6:27)

There are horror stories out there (8:50)

Building credit through paying rent might be the next logical step (9:30)

An agent on our team helping tenants – a neat strategy (12:00)

Rules are written for the small number of the population (14:00)

A shout out to PB Law (15:35)

Refinancing - You don’t need to wait until the end of your term to discuss options. (18:50)

You might have a penalty to pay (23:00)

The cost is absorbed in the savings (25:00)

Focusing on what you are netting instead of what you are spending (25:09)

Feelings can get in the way (26:50)

Shoulda Woulda Coulda (28:00)

So many reasons to be nimble (29:19)

Outro (31:12)