I have been trying to do some investing in real estate foreclosures.?
I have about 9k and a low credit score about 615. Having a hard time getting financing for any type of deal. Help.
Public Comments
- Well repair your credit first.
- I think lenders would want to see you with a 650+ score first.
- You want to 'invest' in foreclosures, with no money and no credit? No, you want to speculate on them rising in value. That's not investing. You can lose your entire equity so fast, it's not even funny. That's why no self respecting loan company will touch you, because once your pittance is gone, theirs is next. I suggest you worry about getting you own house in order before you think about trying to be a big wheeler dealer.
- increase your score by paying down (not paying off) your debts. Also, apply for some cards and keep your usage about about 30%. This should push your score up in about 6 months.
- You shouldn't even be considering such a venture.
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