Getting a Bad Credit Home Equity Loan Baldwinsville NY

While getting a home equity loan in Baldwinsville with bad credit is not always easy there are lenders that specialize in doing this type of loan. These bad credit lenders are more interested in your ability to pay back the loan then anything else. A bad credit score works against you but does not keep you from getting the loan you need.

Local Companies

Citizens Bank - Western Lights/Price Chopper
315-423-9248
4713 Onondaga Blvd
Syracuse, NY
Citizens Bank - Liverpool
315-622-1294
7541 Oswego Road
Liverpool, NY
M And R Mortgage Assistance
(315)477-1377
117 Herbst Av
Syracuse, NY
M & T Bank - Banking Departments- M & T Mortgage Corporation
(315)424-4475
101 South Salina Street
SYRACUSE, NY
Fulton Savings Bank
(315) 592-4201
75 S 1St St
Fulton, NY
Chase Bank
(315) 488-9255
3508 W Genesee St
Syracuse, NY
Citizens Bank - Shop City Plaza
315-463-9245
190 Swansea Dr
Syracuse, NY
Geddes Federal Savings And Loan Association
(315)468-6281
2208 West Genesee Street
Syracuse, NY
Angelic Touch Therapy
315-472-1693
Syracuse, NY
Investment Property Group
(315)689-5311
Box 190 Po
MEMPHIS, NY

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Getting a Bad Credit Home Equity Loan

Author: Andrew Bicknell

While getting a home equity loan with bad credit is not always easy there are lenders that specialize in doing this type of loan. These bad credit lenders are more interested in your ability to pay back the loan then anything else. A bad credit score works against you but does not keep you from getting the loan you need. By using the Fico Method a bad credit lender is able to evaluate your ability to pay back the loan.

You will need a fico score of 500 or higher before a lender will start the home equity loan process. If you do not meet this requirement it is best to talk with a bank loan officer who will evaluate your bad credit problem. The terms of a bad credit loan will depend on your credit history and the reasons you currently have a low fico score.

While your options may be less then those with a better credit score having bad credit does not mean that your will not be able to negotiate terms that will work for you. The lenders who specialize in bad credit home equity loans will work with you to give you the best loan terms they can depending on your circumstances. They are there to help and will give you good service.

Be sure to look at more then one lender as this will give you a better chance of finding the best deal. Signing up with the first lender your try is not a good idea. The first lender may have the best deal for you but you will never know if you don’t shop around. Also be careful hen it comes to the collateral you offer for the loan. Remember, if you default on the loan not only will you lose your house but anything else you have put up as collateral. Make sure to study all the offers made and choose the one that works best for you. Now is not the time to enter into another loan that could turn into a bad debt which will further diminish your credit score.

Finding and applying for a bad credit home equity loan is easier these days then in the past. By using the internet you can research all your options and even apply for loans right online. You may even find out the same day if you have been approved or not.

Getting a bad credit home equity loan is a good way to start building your credit score back up, but it pays to be careful. The internet is a great way to find out everything you need to start on the road to credit recovery.


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Article Source: http://www.articlesbase.com/mortgage-articles/getting-a-bad-credit-home-equity-loan-931546.html

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