Looking For Financial Assistance

[eagleconsultingservices]

Hello Everyone,

My name is Ken and I am a new realestate investor with a small company, located in Portland,Oregon. I just started investing in realestate and learned my first lesson. I purchased to many homes all at ounce and get to much new credit all at ounce. Therefore, my FICO score dropped from around a 700 to below a 620. I need to bring my FICO score up so we can move forward with our projects and I can't get a loan to clean-up my credit because my FICO is to low. It's kinda a catch 22.....not mad about the situation, just looking for a positive solution and/or any advise.

Thank You,

Ken
Eagle Consulting Services, Inc.

[TJ2007]

Ken,

Soundslike the problem is just that the accounts are too new, and you probably had a lot of enquiries while shopping for credit which is also likely a major factor affecting your score.

I have had client with 10 plus mortgages on their credit and had over 720 scores, so it´s not the amount of debt its self in this case.

Perhaps you just need to give it a good 90 days or so without any inquiries on your credit and let the mortgages reflect a longer payment history, and your score should start bouncing back.

Not sure what type of loan you are looking for, but there are programs for those under a 620 score. But probably not if you are looking for high LTV investor financing.

[eagleconsultingservices]

Thank you TJ, I will take your advise and wait it out.