Sylvia’s Credit Score Drops Due to Fraud

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Sylvia buys investment property in Texas and has now amassed a good number of properties for her income property portfolio. A few months ago, Sylvia entered into a contract to purchase another investment property, and when her bank pulled her credit, they discovered that her score was dropped because of a recent fraudulent activity involving her social security number.

Sylvia was devastated that her bank was declining her for a rental property mortgage. The seller of the property she wanted to acquire was adamant that they wanted a fast escrow, and Sylvia knew that this property was a hot commodity. The seller would have no problem putting this home back on the market and getting another buyer, so she had to act quickly.

When Sylvia called QK, she had a 585 FICO score and had already been turned down by a few lenders whom have heard her situation. We helped Sylvia qualify for a one-year bridge loan to complete the purchase of the property. During this year, Sylvia worked with authorities and the credit bureaus to rectify the fraud and to clear the negative activity on her credit. Sylvia was able to get her score back up to above 700, and we were able to refinance the property with a 5% loan rate with a 30-year fixed term.

Sylvia was relieved to obtain the property in spite of the fraudulent activity that has occurred on her credit report, and she will be using QK’s services for any of her future investment property mortgage needs.

Don’t take no for an answer! Call us today to see if we can turn your no into a yes!

Sylvia’s Credit Score Drops Due to Fraud
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