3 months late on rent in Escondido
(Request from Matthew in Escondido, California) I am in dire need of assistance. My wife is pregnant and is high risk and after months of job hunting I finally started my new job. it seems too little too late though we are now going to be 3 months behind on rent and we just received a letter that we are being sued as unlawful detainer. we can not afford to lose our house we have two kids and have no clue as what to do. we are already in the hole and can’t afford a loan. anything you can do would be greatly appreciated.
Dear Matthew,
Congratulations on starting your new job! You solved the problem that is causing you the fall behind by three months on the rent. Now we just need to find a way to buy some time and catch up your rent payments in a manner that is agreeable to your landlord. Here are some possible options.
Rental Assistance Programs
If your household income is below the median income level for California, then you may be able to receive help through emergency rental assistance programs serving San Diego County. Options include the Housing Authority of the County of San Diego, Volunteers of America Luhman Center for Supportive Living, Catholic Charities and South Bay Community Services. If your family is low income and you are late on rent in Escondido by just a month or two, then one of these programs may be able to intervene on your behalf.
If you are evicted, then the City of San Diego Security Deposit Guarantee Program can help you move into a new home even if you lack the necessary security deposit and first month’s rent.
In about 90% of the requests that we receive we recommend taking advantage of the largely grant-based rental assistance programs that utilize funds earmarked for families in the direst circumstances. Your situation happens to be the other 10%.
It appears that you will be able to afford your rent on an ongoing basis and that you just need some cash to put towards your late rent payments so that your family is not evicted. The likelihood of a grant in your situation is lower than most.
First of all, most rental assistance programs require that your family is very low income. As I do not know what your actual income level is I can only assume that it is sufficient to afford your rent comfortably and pay all your bills in a normal month. Secondly, your delinquency of three months exceeds the normal limitation of most programs that specialize in helping tenants with back rent. Most of these programs can only assist with one or a maximum of two payments.
The Loan Option
The most feasible option for you is likely going to be a loan. Depending on what your normal rent payment is, a loan of between $2000 and $4000 would probably make the difference. These types of loans are commonly offered by consumer finance companies at higher interest rates.
A better option is to get a loan through your financial institution. Your bank or credit union would be the ideal option. Make sure that your direct deposit from your new job is already set up with your current financial institution. If possible, bring a copy of your direct deposit form from your job to the loan officer to provide extra assurance that you will be able to repay the loan.
Banks tend to offer personal loans at about half the rate of consumer finance loans. Credit unions also offer products that compete with bank loans, with some loan products being cheaper. To begin contact your local branch office to apply. The local credit union option is a good one if you need a quick loan for late rent in Escondido and San Diego County. For example, San Diego County Credit Union only requires that you live or work in San Diego County to become eligible for membership. Their personal loan rates are currently 15.5% APR, which is about what you would pay for an average credit card balance.
Borrowing money to pay living costs is rarely advisable. However in your situation, a valid argument does exist to borrow the money for your back rent payments as it would help to preserve your credit as well as reduce related costs if your family is evicted.