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NEED MORE MONEY asked:


I have bad credit I need a loan to purchase property. I have 2 properties that have been super for rentals and want to buy them. But how with bad credit?

QAtoday asked:


I borrowed $100k from Trade Capital Company several months back, just to hold the money on deposit to build credit. After a few months the loan showed up on experian. The money is deposited in my name so that doesn’t hurt my balance sheet either.

Now Trade Capital is offering to post the cash as collateral with any major bank that will refinance my existing loan with Trade Capital. This sounds good, but I don’t want a new loan, I want a line of credit to refinance my old loan.

Has anyone had a good experience with a bank that understands cash-secured lines of credit? Trade Capital has recommendations, but I want to see if anyone else has others.

Serious answers only, please! Thank you!

I have decent income and credit, but not a good home mortgage. I want to refinance but my loan is above the market’s value, and my loan is not with Fannie Mae nor Freddie Mac.

Is there any government program that will get me a loan without mortgage insurance?
I checked out MakingHomeAffordable.gov, and the site says, I don’t quality for any of the available options. Any other suggestions?

By: Dolan A

About the Author:

saga asked:


As our children have grown up, we are planning to buy a bigger house and move out of our first home. Our dilemma is what to do with our old home. Should we sell it or should we keep it as an investment property. There is so much confusion about what we can or cannot do. Here is our situation in brief.
We bought our house 5 years ago for $320,000 and we borrowed $300,000. Currently our house is valued at $450,000 and the remaining loan is $250,000. We have an “all in one” account. That is where all our salaries go and we make our credit card payment at the end of every month. Maximum we have reduced our loan was $230,000. But we had to redraw some money for personal reasons.

If we rent it out what is the maximum loan we can claim in our tax return. Is it $250,000 (remaining loan) or $300,000 (original loan) or $230,000 (lowest we have reduced)? Our accountant says that the real value we can claim is much lower than all of above. Because our loan is similar to a “line of credit” loan. Our mortgage consultant says that we can refinance the loan to the current value which is $450,000 and claim that in our tax return. Please educate us and make our life easier.