Refinancing with bad credit

[Tony Karns]

Purchased a duplex last year and finished a full hut and remodeling February. Last week the property went under leasing contract for more than I was asking. I am now ready to refinance and pull out equity for a new deal. Here is my problem.

Last November I had to take a small financial deviation when my sister was caught in a cross fire while driving home from work and was killed. Between the cost of the funeral and the responsibilities of carrying the two boys she left behind, I fell behind a few bills. While I had caught up on most of my stuff the impact has lingering consequences. One such is that my credit score has dropped.

Would putting the property under my wife's name or company name allow us to refinance. If not what is my options. I understand that I could sit and wait for the cloud to move off, but to me that is not an option.