As I mentioned in This Post, lending has tightened up in business lines of credit.
Here are some issues that have resulted in ZERO MONEY in the last 3 months:
- Over 12 inquiries (4 per bureau) in the last year
- Under a 675 FICO score
- Over 70% debt ratio on revolving credit
- High balances on Net-30 or $0 Limit accounts, such as Open AMEX cards.
- HELOC or Mortages under 4 months old
If any clients have these stats – THEY ARE CERTAINLY A NO-GO
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Jeff Miller
I have a degree in Economics and an MBA. I worked for a private money lender for 13 years and was a real estate investor for 4 years. Categories
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March 2009
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