fica under 500

[joym]

can i qualify for at least a hard money loan? i own some family property valued at 82000, with no mortgage free and clear. please help, i have to put an end to my debt problem asap

[HMiller]

I have little experience with hard money lenders. What type of property are you looking to buy and are you looking to put an end to your debt problems by going into further debt?

[Jnazareno]

Sure ...lot's of people want to lend you money at a very costly rate..
maybe 8-12%...I suggest you get your finances in order amd see
where and what your spending your money on...if you find your spending to much on fastfood, cut that in half or more....

[jtn]

I have a lender that will go down to 475 but only at a 70%ltv and a rate of close to 10 depending on your history

[kensmith]

A loan that size with those scores expect to pay some big fees also. Based on where you are I might have someone for you. Private investor that holds his own notes. He will not be cheap (my guess would be 12%), but you will get your cash.

PM me if you want more info.

What I have found is that 99% of people that pull equity out to pay off debt end up with a higher mortgage and after 6-12 months have the credit cards maxed out again. The only way it works is if you take a very hard look at your spending habits and learn to spend less then you make every month. Without doing this you will be a slave to banks forever.

[jtn]

in a nutshell thats the situations that I come across as well, they think that once all the debt is paid off they can start over and pretty much max out their credit once again.

[AaronSOLD]

Go to a credit counseling company. Credit counselors will work with you to come up with ways to lower interest rates and extend payment terms with the credit companies you owe. There's some federal web site that has a list of reputable companies. Maybe Fannie Mae has some.

You need the advice of a credit expert. The good comapnies should do this for cheap and should be non-profit and registered with the BBB. Do not try "credit repair" agencies... they are scams.

[sjj9166]

Go to a credit counseling company. Credit counselors will work with you to come up with ways to lower interest rates and extend payment terms with the credit companies you owe. There's some federal web site that has a list of reputable companies. Maybe Fannie Mae has some.

You need the advice of a credit expert. The good comapnies should do this for cheap and should be non-profit and registered with the BBB. Do not try "credit repair" agencies... they are scams.

I'm sorry I know I'm new but stay away from Credit counseling Co.

1. Understand what is impacting your score.
If it's old or false info try to get the record updated or deleted.

2. Start paying bills on time

3. Add tradelines with positive info. (A credit union can be your best friend. Patelco, DCU)

I'm speaking from experience.

Steve

[Jnazareno]

Not sure if all Credit Repair Companies are scam - I've heard from some clients that this companies did helped them..

same goes for Credit counseling Company - From Exp when I was much younger and naive in ways of money-I did used one and boy did they helped me out..

I guess it would depends who you are going with - ask for referrals from
people you know and such-just don't go out and believe this companies of fthe bat.

[cmgould]

I have a lender that will go down to 475 but only at a 70%ltv and a rate of close to 10 depending on your history

who is this lender and how can i contact them