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I have a F&C property that I need to pull $30k out of and have a low fico (630) is it still possible

I foreclosed on this property in 08 and have moved title back into my name.  The property is F&C, and I have owned it since the early 90's, but have sold it on contract twice and have taken it back both times.  I want to keep the home and property now and need to do extensive remodel/repair.  I have only been working since Jan 1st. and before that had unreportable income for years (legal, but unreported) The fico score is down because my X had included me as an "authorized signer" on some of her accounts and is now in default and its harming my score.  The accounts are in dispute but that doesn't help at the moment.  My personal fico was in the high 680's in November, till she went south on her cards. I have little personal debt (under 5k) and have nearly $300k in assets.  This property is easily worth $250k even in this market. It is 5 ac., with a 1600 sqft Manufactured Home converted to real property, a 1200 sqft finished garage and of course the well, septic, electric etc...so, help me out here everyone.... thanks
  • January 30 2009 - Pahrump
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Answers (1)

Possibly hard money, which is a short term loan if you have a significant equity position in the property.  I do not think FHA would do it, I would have to check specific rules.  A HELOC would not work either. 


  • February 04 2009
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