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Renters hoping to buy a house may find it easier to qualify for a mortgage if they pay their rent on time, according to an article in The New York Times.
In 2011, Experian, a credit-reporting company, added a section to credit reports listing on-time rent payments. CoreLogic and FICO, two other reporting companies are planning similar sections to their reporting systems.
Documenting on-time rent payment information could help potential home-buyers increase their credit scores.
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