Again, I am the one who is having some credit issues trying to buy an investment property. I need a loan officer interested in helping me, you know, motivated but very knowledgeable. Let me know if you know anyone in the Dallas/ Fort Worth area that is a miracle worker.
WHAT IS YOUR CREDIT SCORE???..ALL THREE BUREAUS
DO YOU HAVE ANY BANKRUPTCY OR FORECLOSURES ON YOUR CREDIT???
Do you own a primary residence? If you do and you have some equity in it then you may be able to find a small bank that will do an assignment of collateral against your primary to give them some additional security. So what I mean is…If you have a house that is worth $150,000 and you only owe $100,000 then they could assign a silent second against your primary for about $30,000 in addition to you putting a little money down on the subject property. Not all lenders will do that but we have done it in the past and it works great if you are having issues in other areas.