All Forum Posts by: Julio Vazquez

I need options. I got this ridiculous loan from this company. It goes up every few months. I had already done a few flips but this was my first alone. I read the fine print but didn’t think it would affect me. To my surprise I was stalled and stolen from twice by two different contractors. Now my 160k loan is ballooned to 15% with no relief for covid and the house isn’t complete. Even when it is I don’t know if I would be able to sell it because of the market. Any ideas? I’m in desperate need of help.

@Robin Hall did you ever figure this out? I’m looking at something similar now as well

I am in the process of trying to buy another property. The problem that I am having is that 4 months ago I had switched banks but continued to pay my mortgage from the old account. I realized the issue and caught up  with  the mortgage the following month. But the mortgage co still reported me as late 30days. Now I am having trouble getting a conventional loan and was told by two brokers now that I would have to wait for a year for that mistake to get off my credit report.  I have had the loan for 3 years and this was my only late payment.

Is there anyway around this? I live in Philadelphia, Pa and house prices keep rising and I do not want to wait so long. The loan that I paid late is for an FHA loan so applying for another is out of the question. Thanks in advance.