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for an apartment and the Mgmt company told me I needed a co-signor or guarantor that made 5 X the Annual Rent $33,600 X 5 = $168,000. Can a SBLC be used as a guarantor? Is an individual allowed to open a Standby Letter of Credit to use as a performance guarantee for a housing rental transaction? I applied for an apartment and the Mgmt company told me I needed a co-signor or guarantor that made 5 X the Annual Rent $33,600 X 5 = $168,000. Can a SBLC be used as a guarantor?
Donna, White Plains
January 10, 2016 07:07:02 AM
Borrowing & Managing Your Credit
In reply to Donna, White Plains
Welcome to the TD Helps community, Donna. We'll be happy to point you in the right direction.
It sounds like your Landlord would like a Letter of Verification. We recommend for you to visit your local TD Banks Store for assistance. You can find a listing of contact information, locations and hours here: http://bit.ly/TDStores. If you have any additional questions or would like to schedule an appointment with a Representative, please feel free to contact us 24/7 at 888-751-9000.
We hope that you have a wonderful morning, Donna. Let us know if you have any further questions.
Kris M, Mt. Laurel
January 10, 2016 07:07:21 AM