Financing For Investing In Multi-Family And Commercial
Hi everyone. I wanted to know about investing through an LLC or Corporation if you have had some major dings to your personal credit within the last year, including bankruptcy and/or foreclosure.
Hey,
Are you talking about an accelerated payment schedule or one of those companies that claim there is a legal loophole that allows you to dismiss your mortgage?
Bruce
I second what bargain said, why do you need a company to do this when you can just as easily do it yourself? Plus, they charge you for something you can do yourself.
Paying extra every month has a much less risk and lower costs than anything else. If you get into trouble, you can revert back to the original payment.
Hey,
Perhaps if you had described the process better (or at all) in the first post, you would have received more direct responses.
Having people try to guess at what the "program" you are referring to, waste their time and yours.
Bruce
Also, portfolio loans are given based on credit scores. Also I have 3 other loans with the bank and I keep my accounts with them. Partially its because of the relationship that they are working with me on this.
Just a suggestion to try to build relationships for future use... It can be advantageous
I did get a portfolio lender to do mine as well. This was a house that I purchased about a year ago with creative financing and needed to refinance. No 30 yr on this one as well but I went with the option arm for the payment flexibility. I have found a great portfolio lender to work with that may be able to help if yours falls through.