All Forum Posts by: Andrea Gardiner

I agree with Sean and Tevis. A great credit repair company can be a tremendous resource for a person in need. For example, I wasn't blessed with great financial education in college and made horrible decisions, now more than 10 years later these items are still being freshly (and in most instances) doubly report which is absolutely wrecking my score. I've done everything right (living conservative and not needlessly applying for credit) but they are still reporting as though I just took out these accounts. Needless to say I've had enough of the antiquated way in which our credit system operates and decided to use a credit repair service which worked tremendously for me. Within 45 days I was ready for approval on an FHA loan.
Btw I use Lexington Law if you are still looking for a good company for your client. Of course they only did things that I could have done for myself however I'm immensely busy with work and family and just don't have the time to review FRCA laws and what not.

Thanks Brandon,
It is a tough sell to get a seller to carry 25-30% in second mortgage position. My realtor has managed to find me a few sellers willing to do owner financing so my original strategy might change somewhat...I may go with the option you've presented where I offer below the percentage the bank is willing to lend so that the purchase price is fully funded. I did run into one snag with this method though...when I spoke with my broker he indicated that it didn't matter if the seller was willingntomaccept 50-65% but that no matter what they will only fund 75% of the purchase price. The way I'm trying to get around this would be to offer the full price and work with a DPA program. The DPA program will fund the 35% to my account to show DP satisfaction to the bank however the seller will essentially give the DP back.
It may work if the seller is willing to accept a lower offer for the home. Lets see.

Hello,
I'm new to posting here on BP but have been interning on this forum for quite sometime. I am currently in the market to begin buying rental properties in Fairfield county of CT but am in need of a hard money lender. My aim is to have the hard money lender take the first lien position with 65% of LTV and have the seller finance the remainder of the loan and closing. I have been able to locate a mortgage company that doesn't require seasoning for refi as long as I'm not doing a cash out refi (which I'm not...just need to refi the existing loans with the hard money lender and seller carry back). Can anyone tell me if there is something I am not considering. I would greatly appreciate any guidance.