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need to get a home equity loan , the house is paid for .but my credit is bad and i need the money right away ,what can i do?

by zollie_846_974 from Neptune, New Jersey. Apr 2nd 2013 Reply


Cory Ure (coryure)
#46 ranked lender in Utah - 50 contributions

Home equity loans are not being handed-out like they used to be because in the event of default it's always the second lien holder that takes it in the shorts and doesn't get any of their money back. Unlike a first lien holder that gets at least a majority of their money back through the foreclosure sale and mortgage insurance. Your credit issue will work against you, so shop around and don't take just anything. You don't want a loan with bad terms just because they are the only ones that will lend to you. You'll end-up in more financial trouble than you are now.

Apr 2nd 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

Call me, I am in Monmouth County - lets talk - 732 489 9598 www HOMEMORTGAGExpert.com Peter Savino

Apr 2nd 2013
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Dave Pressel (DavePressel)
#93 ranked lender in New Jersey - 12 contributions

It depends on how "bad" your credit is. If you want, call me at the office and I can go over your optionsDave Pressel732-348-5397

Apr 2nd 2013
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Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 198 contributions

Will all depend on how bad your credit actually is, We offer cash-out programs down to 560 credit score (most brokers / lenders require 640+). Send me e-mail: carlos@keypointmtg.com or call our office at 908-516-2190 and speak to one of our experienced loan officers. We are local, Summit, NJ and can set up appointment at your home.

Apr 2nd 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#76 ranked lender in Florida - 2,240 contributions

There can be options but we would need more information to form a solution for you.Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation. Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com We are also proud Homes for Heroes affiliates!

Apr 2nd 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Private lender. Contact me at 503-620-2239.

Apr 2nd 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,875 contributions

First, don't assume. I have people every week who tell me they have bad credit, and they do. On the other hand, I also have people who tell me they have bad credit, but the scores, while weak, are acceptable enough. Contact a local mortgage broker in your area. Give them a full application, and see where it goes.

Apr 3rd 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,237 contributions

First, know exactly where your credit is. Then, start with the place you do you banking or a local mortgage banker who handles HELOC's, see what they can do for someone with your credit profile. If your credit is bad enough you will have very few options other than a "hard money" lender or a finance company. Make sure that you have a plan to get your credit back where it needs to be or you could end up loosing the house.

Apr 3rd 2013
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George Dokos (georgedokos@movementmortgage)
#58 ranked lender in Virginia - 25 contributions

How do you define bad? what is your fico score? do you have collections, charge offs etc? You mght want to get a free credit report and see your credit history, it may not be as bad a you think.

Apr 3rd 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

You can get a HELOC on a home that is paid for. However, you will need the credit scores and income required to qualify

Apr 3rd 2013
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Peter Botros (PeterBotros)
#71 ranked lender in New York - 895 contributions

I would need more info in order to determine what your best course of action is. I have helped a few people in similar situations. Call me, Peter Botros, 347 231 4444 or email me a detailed explanation of your situation PBotros@OmegaLoans.net

Apr 3rd 2013
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My house is paid in full. Its only four years old. We have bad credit can we get a loan.

Jul 17th 2013
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