B..A..D......C..R..E..D..I..T - Posted by William Robert

Posted by Burt Joseph on September 20, 2002 at 12:36:22:

mario rodriguez, I’m in a similiar situation, but being a first time home buyer makes it alot more difficult. I have 10G to put down, can you help me

B…A…D…C…R…E…D…I…T - Posted by William Robert

Posted by William Robert on September 17, 2002 at 21:55:01:

I’m stuck on my first deal. I was renting from my cousin. She’s an out of towner. We talked and she agreed to do a family transfer of the deed to me. Then I was suppose to get an equity loan and pay her $23,000. The house has been appraised for $40,000…several times. The problem is I can’t get a lender in PA to approve me. My wife isn’t working but has good credit(mid 600’s). I’m still working but have ($6500) bad credit(low 500’s). I’ve been turned down by what seems, every kind of lender in Phila,Pa. My cousin has been patient with us accepting the rent in the meantime. How could I clear my debt…pay her… and move on to more deals???
-----Thanks I know you have great advice.

Re: B…A…D…C…R…E…D…I…T - Posted by Mario Rodriguez

Posted by Mario Rodriguez on September 20, 2002 at 01:56:54:

Hello William, I can help you with your financing. My terms are:

  1. Up to 100% Fair Market Value
  2. 1.5% Interest Only Payments with Balloon Due within 120 Months
  3. NO DOCS required, Only Property Deeded in LLC Name formed by yourself with myself as President/C.E.O./Owner Title

If you are interested or would like more info… please email me at man1325@yahoo.com


Mario Rodriguez

Re: B…A…D…C…R…E…D…I…T - Posted by Marjorie

Posted by Marjorie on September 18, 2002 at 07:01:57:

How long was it exactly between the time the property was changed over to you being the owner and You trying to get a loan out on it?

Re: B…A…D…C…R…E…D…I…T - Posted by Bruce Lawson

Posted by Bruce Lawson on September 18, 2002 at 04:35:24:

Hi William,

Approach your cousin and offer her to do a lease option make the terms for one year and start to repairing your credit, after one year you can have your score up enough to qualify.

The most misunderstood thing about credit problems is people think they are stuck with the blemishes until the statute expires, that is not true all derogatories can be removed or corrected if the information is in violation of the fair Credit Reporting Act.

Feel free to contact me if you want to discuss the credit reporting industry and how to get started repairing your credit.


Bruce Lawson