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Can I get a home equity loan with bad credit?

B

bernetec

New Member
A secured loan is suitable for those burdened by other debts, have a bad credit history, or cannot prove their income with a certificate of employment. This loan is easier to obtain as the property secures. The borrower takes money from the bank at interest and makes a pledge - an apartment, remaining registered in it, to guarantee repayment. If the borrower does not pay, the bank sells his property and repays the debt by court order. But this is the most extreme case. It is better to turn to professionals in such matters because it will be difficult to figure out independently. I recently needed the help of professionals. The Mortgage Advisor in Derby helped me out.
 
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D

Dora Wi

Active Member
I don't have personal experience but I think you should look into the credit requirements of different loan issuers and see if there is any way to improve your credit. There might be solutions depending on the specifics of your circumstances.
 
L

lanedave

New Member
To get a home equity loan with bad credit, you’ll likely have to have a low debt-to-income ratio (DTI),a high income and at least 15 percent equity in your home. Having poor credit means you might face a tougher time borrowing money, but it’s not impossible to qualify.
 
A

Alan1221

New Member
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