Did It Again!
good news house now has lots of equity, bad news brokers ran my credit down below 500 with inquires,ouir current lender(private)gave bad advice to screw us out of www.home.not giving up easy but am not sure what to do next except continue resserach :evil:
1. Slightly confusing. Take a little more time to be clear when posting.
2. If you have lots of equity can I safely assume you own the place? The balance of your comments make this unclear.
3. The credit score is terrible. You might be great but the score is completely below where it needs to be for lenders to be interested on good terms.
This is not caused by enquiries. Enquiries only cost a couple of points and drop off the score (but stay on the record) in about 3 months. Hence you will see the score go back up in 12 weeks or so but the enquiry will show for about 2 years.
You have other issues to address with the credit. For the short term expect that you can not arrange financing with conventional lenders so will need to be more creative.
4. What is the comment about the private lender suppose to mean? It might help if you explain the details more. Is this the existing loan (assuming there is one) or a loan that was being offered at some point? Are you buying or refinancing?
5. You do not seem to be asking any questions. Are you just venting or did you mean that you wanted help with something?
John
[addsig]