Financing for Bad Credit,but 80% LTV - Posted by R. Chavis

Posted by Robert M. Campbell on March 23, 2000 at 10:08:00:

As a San Diego mortgage broker, I can tell you the pending FORECLOSURE is going to hurt you bad with respect to obtaining conventional financing.

Conventional lenders HATE foreclosures. It hits too close to home.

So what are your options?

Creative real estate financing. Like lease/options, options, hard-money lenders, etc.

My favorite creative real estate financing vehicle is PACTrusts by Bill Gatten. If you take the time to learn everything a PACTrust can do for you as an investor, I believe you will be impressed.

I know I am.

Another idea. Bad credit can be a HUGE liability for a real estate investor. Or anyone else for that matter.

However, there are legal ways to clean-up your bad credit . . . and get negative credit items legally removed.

There are a couple of exceptional services that can do this for you. The one I use for my “credit impaired” clients works extremely well. Let me know if you want to know about it.

Robert M. CAmpbell

Financing for Bad Credit,but 80% LTV - Posted by R. Chavis

Posted by R. Chavis on March 23, 2000 at 08:43:49:

I live in the state of North Carolina. What is the possibility of financing a mortgage when I have been rated a “C” in my credit and have a pending foreclosure that will be paid out in two weeks? The property has a tax value of $112,000 and I can buy at $42,500 and want to take out a loan for $80,000 to cover fix-up cost, liens, and profit.
Is the loan a go in NC and who can finance? Where are the broker deals I read about on investors that have had bankrupties, foreclosures, etc. and still make deals and qualify?

R. Chavis