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Updated over 1 year ago on . Most recent reply
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Lending to personal Low Credit score and high Debt to Income Individual.
Hi, after the answers on my previous post, reevaluated the properties in inherited. Estimated value $1 million in assets. After watching so many videos, one thing is not true, I cannot find asset based lenders who will work with me because our debt to income and low credit score. These properties are owned free and clear. I thought based on all of the videos I can used that equity to get the other 6 properties repaired so they can be rented and improve our situation. It seems most videos and writings do not stress the personal credit aspect especially for new businesses.
Are there lenders that will lend based on the assets and the potential revenue gained, or do I need to find a way to pay down debt to raise my credit score?