Buying With Hard Lender In Personal Name And Refinancing Into LLC
Hi everyone, this is my first post. I recently went to a hard money lender to finance my first property. He told me that investors buy in their personal name and then refinance into their LLC in about 2 months, but from everything I have been hearing I should be going in with my LLC and out with my LLC. My partner and I have well over 700 fico scores. Just to give you a little backround we have equity lines open on our homes with about $20,000 to use,but we just wanted to keep them in case of emergencies in case we need cash fast. I would really appreciate if someone could tell us the exact way we should be doing this. Thank you so very much
Not sure how long it would take to update automatically. If you don;t get an answer here, visit the boards on www.creditboards.com. They would know for sure.
it will update automatically when your cc co. sends the update to the credit bureaus. i do not know of any other way to do it. calling them and telling them to speed it up is not an option
Most companies update your report in the beginning of the month. To be on the safe side say by the 10th. If you are going through a broker you may be able to get a rapid rescore. Also join www.truecredit.com and you can pull as many times as you want.
Thanks All
If it is one of the big CC companies it should update the beginning of the month after the payment is made.
If it is a little company you might have to callt hem and ask them to update after 30 days have passed.