Financing and Credit

I posted about this a while ago, but I thing it is good to talk about it again. When trying to establish business credit, one of the fast ways to do it is attaching a seasoned trade (credit) line to your business. There are companies on the internet that offer this service. I will not make a recomendation, but if you google seasoned trade lines, you will find quite a few companies that offer this. How it works is once you have your coompany set up you can attach one of these trade lines to it which boost the credit score right away and you can then go apply for credit with your company with a good credit score. This is just another creative way to get credit built for your company.

According to Al Yoon

NEW YORK (Reuters) – The four largest U.S. banks could face as much as $42 billion in losses as they repurchase faulty mortgages from housing finance giants Fannie Mae and Freddie Mac, Fitch Ratings said on Wednesday.

Total repurchases is based on the success of Fannie Mae FMNA.OB and Freddie Mac (FMCC.OB: Quote, Profile, Research, Stock Buzz) proving their cases, but Fitch said it is concerned that more aggressive requests by the companies could expose banks to greater than expected losses.

Your spouse doesn't support what you wanna do with real estate!! We have the ability to purchase the SFL system on monthly payments its not happening! So frustrating!!!

I am so happy. I went in to check my business credit score today because with my offer the bank wanted to see my FICO score (despite it being a cash or PML offer).

Well, I didn't want to have another inquiry on my credit, so I decided to check my business to see if my Paydex score was showing. I knew I was getting credit card offers for my business, but I got a HUGE smile on my face looking at the report today and seeing that 80 glaring at me from the page! I used it in place of my personal FICO score for my offer, successfully.

It can be done on your own folks, don't give up on it! I decided NOT to hire another company after the bad experience I had with one (who had put all the wrong info and gave me little to no guidance at all.)

I negotiated a great deal on a house. I need 30 to 60 days to find a buyer and assign it off. In the meantime my seller wants a check for 10% or he wont sign my sale agreement. How do I lock up the property without forking over the deposit?

Thanks.

A friend of mine is giving a webinar on Monday 8/16 @ 7pm CENTRAL time.
Here's the link:
https://www1.gotomeeting.com/join/706861160/106285615
It is everything you wanted to know about credit but were afraid to ask.
You have to register so log on and get your spot!
Lauri

Hi all:

I bought one of Dean's books last year because I needed a house to live in, followed his advice, and bought a house in an auction; an interesting experience. My goal is/was not to do RE for a living. I just wanted to get the best deal on my own house.

I think I did. The house I got was sold (2 yrs. ago at the peak of the housing bubble) for over $425K. I got it for under $170K (financed it using FHA loan). That was last year.

Im looking for lenders that allow a owner to carry a second.

Please let me know or post them here if you know any.

Currently looking for a hard money lender in Indiana. Any help is welcomed and appreciated. Thanks:)

Having a healthy credit score has never been more important than it is now. As banks tighten their lending standards, it's very important to have your score as high as possible.
A FICO score is a number, in general from 300 to 850. This score is formulated from your payment history, including such things as amounts of money owed, length of your credit history, new credit accounts open, and how you have used your credit. Age, salary, race, education, and religion do not affect your score. You can't buy a good score; you can only build one over time by demonstrating that you are a responsible borrower.
To improve your credit score, start with these few simple steps.
1. Pay your bills on time