Low Score need refinancing

I have investment property in Indiana, appraise at approx. 50k, do not owe any money on it, unfortunately half way through rehab my husband lost his job and before he found another one our money and credit score went down the drain. I am looking for refinancing, any ideas? ???

The answer depends on how far “down the drain” the credit has gone. Also keep in mind the minimum loan amount you will be able to take (at least with my company) will be 25,000, higher with other companies.

As long as your credit score is above 500 you have options. The best way to know your options is to fill out a loan application. I know any of the loan officers that post in these forums would be happy to help you, including myself :).

Unfortunately the last time I checked it was below 500, when my husband lost his job, we missed one payment on almost everything, I’m caught up on most, except a couple of credit cards, but all of the balances are high. Thanks.

With just the parameters that you mentioned I can tell you that you are not going to find a mortgage company that will refinance you.

However, since there is no mortgage on the property, there are Hard Money Lender’s (HML) that may be able to get you some funds. They loan on lower LTV’s.

You may try going to someplace like American General Finance, Fair Finance, etc. They offer a personal type of loan.