I have a full time job (20 yers) with additional income of 000 per year. The property was appraised at 5K and I am needing K loan. My credit score is 640.

I stood guarantee for the business line of credit. The business is almost gone and the loan stands at 95,000 USD. Bank is coming after me. What do i do ? Personal bankruptcy has been suggested by friends. what are the consequences of personal bankruptcy? I am so very worried. Is there a nicer resolution for this? My credit score is very good right now.

is there any possible way to finance a 40 unit apartment complex that cost 1.7 million without having the the entire 20% down that is recommended for commercial loan….i have a 780 credit score about 120k and make 100k a year.the apartments have been 95% occupied for last 3 years…..without having to pay over 10% interest

I am currently trying to refinance one of my properties.The problem is that my credit score plumitted because I am behind on payments(I have a variable interest rate & noone is currently renting my home).My payment keeps going up & I'm afraid I won't catch up!!!They tell me because of my score I would only qualify for a hard money loan & on top of that I cannot cash out.I've heard these loans are VERY high risk.Are they trying to srew my over.What do I do??My payment keeps going up,I need to cash out so I can pay for backed up bills.They tell me the only program that can give me a low monthly payment that is fixed is Option 1.Please give me your opinion.Thanks people I appreciate the help!!
I saw that one of you said to have someone else go into the loan with me & I have already tried that.My mom has a fico score in low 800's & even that way the bank's keep telling me that they will use MY score over hers.They tell me that they HAVE TO use the lowest score.So that doesn't work for my either.

I am looking to start a bar in Chicago, IL and I know the building that I want to acquire. I have a partner who is able to put 0-400K into the project but the building itself will cost between 0K-M to acquire and will require anywhere from 0K-200K to restore and convert. I would like to know the best place to go for a commercial real estate loan keeping in mind the significant funding we already have. I would like to limit the down payment to about 0-150K to keep the rest available for the bar itself. As a side note my personal credit score isn't fantastic (about 630). Also, the building is not currently a bar but an old theater so it will require remodeling, however they do hold a liquor license so it is properly zoned.

Thanks!

Does a person's credit score really matter if they are taking out a hard money loan to rehab a house and quickly sell for a profit?