Have to move and need help with security deposit in Bellmawr, NJ

(Request from Bridget in Bellmawr, New Jersey) My landlord is selling my current home. I was asked to move, and have found a house I can move into July 1 but I need security deposit for my new house and my current landlord has 30 days to return my deposit here, but the new landlord can’t wait. Please tell me where I can get help. I only have about 3 weeks until move in day.

Dear Bridget,

Your landlord certainly did not give you much notice about needing to move. Is your lease up? If not, then perhaps your landlord will be open to a discussion about possible returning a portion of your security deposit early. If the home is clean and undamaged, then a personal visit might be enough to convince them to return part of the deposit now to help you move into your new place.

Outside of that discussion, there may be some options to help you get the security deposit you need so that you have all of the cash necessary to move into your new home. This can include the security deposit and first month’s rent plus any utility deposits.

Camden County Housing Assistance

We previously identified community programs that may have been able to help another client who was facing eviction in Camden County. We referred him to the Diocesan Housing Services Corporation (DHSC) as one possible resource. While that charitable organization provides residential housing units, they may also be willing to help you move into the new place that you found.

Camden County Council On Economic Opportunity

The Camden County Council On Economic Opportunity (Camden County OEO) is another local organization that can provide emergency cash assistance when you need help with a move. This community action program provides cash assistance primarily for clients who are late on rent, but their case managers are also committed to helping you obtain permanent housing.

The agency does provide assistance towards security deposits. This makes Camden County OEO one of the best options that you may have for getting help with your transition.

Loan Options

If you are denied assistance with rent due to exceeding the allowable income caps, then you may want to consider whether a loan for rent can make a difference. Security deposit loans in New Jersey can reward you for your solid income and credit history, giving you the cash you need today with the benefit of a low interest rate and many months to repay the loan proceeds.

Choosing this option of course means that you need to stick only with reputable lenders. Banks and credit unions are the best option. Finance companies and payday loan companies are generally unaffordable. Even though payday loans are currently illegal in New Jersey, many people still fall victim to online payday loan companies.

We recommend speaking with a case manager with one of the local housing agencies and nonprofit organizations that can provide a security deposit in Bellmawr and Camden County. Even if you do not qualify for their programs, they can often refer you to smaller programs with religious organizations or other associations that can help.