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Joe and Teresa own a small apartment complex in Los Angeles, California. Two years ago, Teresa fell ill, and Joe needed to do a cash-out refinance with a hard money lender in order to get some cash to help with Teresa’s illness. His interest rate on the loan was 13%, and it was a 2-year loan. Now that the two years on his hard money loan were up, Joe had to find new financing so that he could keep the property.
When Joe called QK, his credit was not where he had expected it to be. Numerous bills related to his wife’s illness had piled up, and he had a few late payments on some consumer accounts that lowered his FICO score to a 605.
Despite things looking grim, we were able to help Joe qualify for a new loan at a rate of 6.99% with additional cash out so that he could consolidate his bills and financially get back on track.
All in all, Joe and Teresa are extremely excited. Teresa is now feeling as healthy as ever, and Joe has over $1,800 in monthly savings that has helped him do some repairs he had been holding off on on his primary residence.
Don’t Wait! Call us now, and see how much you can save.