New purchased property

Hello evryone,

I know some one who recently purchased a new home and has put 10% downpayment. Also they had a credit score of 652 at the time of purcahse, but was late in one card and that brought the score way down to 562.

Now they are trying to borrow against these equity in the house or refinance and every one they have tried would not do it because of the credit score.

They wanted to purcahse another property with the equity and now they don’t know what to do.

Please help or advise if anything can be done at all.


Which state is the property in? It is possible to obtain financing with credit score as low as 500, that is, provided certain other conditions are met.


The property is located in Tampa, Fl.

Please advise if you can.


I sent you a PM

What do you mean? Please excuse my ignorance and please explain.