4 years ago, I refinaced my properties, and took all possible cash out, 3 years ago, a rehabber ripped me off, costing me over $300,000. I donno about you people, but to me, that’s the equivilent of atleast 3 years income. needless to say, my FICO is in bad shape(below 500) and I’m about to be foreclosed on 2 of my houses. These houses are unrented, and almost completed (rehabbing). but, once rented, since I’ve fallen behind, continous late fees are gunna kill me.
IF I can find someone to refinace 3 of my properties, and possibly buy a 4th, I can pay all my bills and still make a profit, then after a year, my credit should be good enough to refinance… If anyone is interested, please let me know, my houses are very currently at a high LTV. I know it all SOUNDS bad, but, if you look at the figures on paper, the loans make sense…
how much equity do you have in your homes? And what state are you in? I may be able to help you find funding.