Jump to content

Newbie w/ complicated credit report needs help!!


Guest Kirch
 Share

Recommended Posts

I'm a property investor with ~ 10 home loans on my credit report and some revolving credit w/ balances.

Why credit score has always been north of 700. As high as 849 last year. I never head any blemishes on my report. Just "too many incuries", "# of established accounts, etc."

I'm trying to refi my primary home loan right now and my credit has dropped to 562,624,614. MY JAW DROPPED. I can't even qualify for a damn home loan. So I start digging into the report. one blemish from a missed payment on a credit card. Other than that my 30,60,90 day columns have NO BLEMS.

In addtion, I am carrying a few high balances on some credit cards for a house I just rehabbed and will flip and pay them off.

My question is, if I have only one blem how can my score be so low? What can I do to repair it. Is there a good agency that could assist with this for a reasonable fee?

Please Help.

Regards

Dave

Link to comment
Share on other sites

In addtion, I am carrying a few high balances on some credit cards for a house I just rehabbed and will flip and pay them off.

Dave

not an expert, but i think you have answered your own question.

you might be getting tagged on the "debt to credit ratio" kind of thing.

dont know the name of it, but there is also an "available credit" scenerio that can tag you for CC limit availablity...even with a zero balance.

seems like your score might go up once the CC balances are paid after flipping.

perhaps this was never an issue before, but banks are cracking down as of late...maybe the CRA's are also.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.