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Newbie Needs Help!!

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shepherd1
New Member

Newbie Needs Help!!

Hello one and all, I have read a lot on these forums and have learned a lot.  A couple of years back, I tried to be a RE investor...yeah, you know the one.  My scores were all in the 700s.  I bought two properties and rented them out.  No problem so far.  One tenant moved out and after changing manamgemt cos. twice, have not been able to rent it out for over a year now.  Tried to sell, no takers.
 
Never missed a mortgage payment, not even now.  Here's the problem. I missed the payment on the property taxes and the mortage co. paid them and now I have escrows that made my pymts jump over 50%.  This all happened while I was writing to the counites to grant a hardship on the taxes.  To cut a long story short, my pymts are in suspense and my mortgage co is reporting me late by 60 days.
 
This dropped my CS by about 100 pts!!  I am making arrangements to pay off the escrow.  Just asking for opinions here, will the mortage co erase the late payments and bring me current to the CBs?  Will I see an improvement in my CSs?
 
Thanks all in advance for your input on this.  Any other thoughts welcomed.

 

shepherd1
shepherd1
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1 REPLY 1
Anonymous
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Re: Newbie Needs Help!!

Ouch! Sounds like your in  a pickle and unforturnatley I wouldn't expect to see you 60 day late wiped out or dissappear.
Message 2 of 2
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