Getting a Bad Credit Home Equity Loan Cohoes NY

While getting a home equity loan in Cohoes 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

Central Abstract
(518)371-4926
9 Corporate Drive Suite 3
Clifton Park, NY
Northgate Funding CO
(518)690-2030
621 Columbia Street Suite 2
COHOES, NY
Citifinancial
(518)357-9761
1400 Altamont Avenue
SCHENECTADY, NY
Allied Mortgage Services
(518)436-5626
50 South Pearl Street
ALBANY, NY
Homestead Funding Corp
(518) 464-1100
8 Airline Dr
Albany, NY
Citizens Bank - Loudonville
518-489-1867
265 Osborne Road
Loudonville, NY
Murdock Abstract Corporation
(518)370-3418
162 Lafayette Street
Schenectady, NY
Countrywide Home Loans
(518)786-3600
579 Schenectady Street
SCHENECTADY, NY
Ameriquest Mortgage Company
(518)431-6516
7 Southwoods Boulevard
ALBANY, NY
Bank Of America Na Charlotte
(518) 786-3600
579 Troy Schenectady Rd Ste 20
Latham, 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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