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Updated about 17 years ago on . Most recent reply

User Stats

149
Posts
6
Votes
Kyle Gregory
  • Real Estate Investor
  • liberty township, OH
6
Votes |
149
Posts

screwed by broker

Kyle Gregory
  • Real Estate Investor
  • liberty township, OH
Posted

here is my situation.. I bought a 2 family rehab (putting it mildly) for $30K. I have invested in this property roughly $12K and have brought the value up to about $65-70 (a little cosmetic work has gone a long way) any way, i am to the point that i would like to tap into some of that equity to finish up what i need to get done. I went to a broker, the same one that did my first loan (i was trying to build a relationship with him) and told him what i needed to get done.. After about 2 months of sending in required paperwork and having my credit report pulled a few times , and even being told by underwriter there is no problem with the loan he comes back and tells me "the mortgage industry has changed and i will continue to look but i will suggest you go elsewhere"!!! So now that this jackass has pulled my report a couple of times for a second mortgage what can i do?

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