Your Advice Is Greatly Appreciated
I am seeking some advice to assist me getting back on track and starting over.
I am a 38 y/o recently retired Marine, however my retirement was greatly overshawdowed by my also recent divorce. (second one) So I find myself with a new beginning and a FICO score around 540.
Are there any hard money lenders or banks still out there who will work with persons with FICO scores under 620?
I have had my credit analyzed and with some catch up of some past debts, (around 15K) including a judgment, I should bring my score back up to at least an 620.
I have been studying lease option purchase, subject-to and wholesale strategies and believe those to be my niche. I have a few deals in the works and an accepted offer on one but am concerned that I may not be able to find financing in time do to my credit score?
Any advice on where to start would be greatly appreciated.
If you have a property to basically act as collateral then I think the average Hm guy will lend 60-65% LTV
They do not report. My business has 6 business credit cards and not one of them reports to DB.
I have local accounts with suppliers and a few report to DB. Go to www.creditboards.com and see their business credit section.
Verizon directories, Hagadon controlled newspapers, and other similar type business will.
Citibank for Homedepot will "investigate" through D&B so I will assume they report there also (accnt to new to know for certain).
I heard that Northern Tools reports D&B.
Harbor Frieght Tools might, they have inhouse accounts.
Heard OfficeDepot does.
More info at www.creditboards.com
Office depot, staples, home depot etc but only their inhouse cards. For the mastercard and visas none of them do. I have staples and home depot in house and the home depot MC and only the inhouse reports to DB.
I cannot think of any MC or VISA companies that report none of the ones I have do.
Department store credit cards are typically known to the worse..macys, sears, etc..high limits which are idle can lower your score. Paying off your limits and closing the cards lower your score too..the best way to maintain credit is to pay more than the minimum amount due monthly and develop a good payment history.
Thanks
My question was as a do my credit checks as a loan officer
affect their score ?
and how many credit checks are to many
Not credit cards
How do I like working with "Settlement One"? I have been working with "Credit America" but I just switched Brokers and I have applied to Kroll Factual Data. ?
Any feedback? How much does it cost per trimerge?
Can anyone give a definitive on this. I know you can check one or all your CREDIT REPORTS and not take a hit per your score. But - can you order your own trimerge-score and NOT affect your score?
Can anyone give a definitive on this. I know you can check one or all your CREDIT REPORTS and not take a hit per your score. But - can you check out and order your (three separate) CREDIT SCORES and not affect your score?
I have been trying to purchase two rental properties. My score has dropped with two agencies 59 points since September. There have been no accounts added or subtracted or paid persay. They are all inquires and some are not authorized. What can I do. If I have another company run my score again it will go down again. Two lenders have run it in two weeks.