Getting a Bad Credit Home Equity Loan Long Beach NY

While getting a home equity loan in Long Beach 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

Lighthouse Insurance
(516)887-3800
118 North Central Avenue
Valley Stream, NY
Mr. Michael J. Goldsmith (RFC®), LUTCF
516 541 0111
549 Broadway Street Suite 201
Massapequa, NY
Haibiscus Insurance Agency Inc
(718)322-4801
124-15 Rockaway Blvd
SOUTH OZONE PARK, NY
East Coast Capital Corp
(516)358-6500
270 Jericho Trnpk
FLORAL PARK, NY
AAA DeClara Funding
(516)488-8000
1983 Marcus Avenue Suite C105
NEW HYDE PARK, NY
Aasef Business Services Inc.
(718)262-8457
175-12 93rd Ave
Jamaica, NY
Helen Beichel
1133 Park Place
Brooklyn, NY
United Mortgages of America Inc
(718)888-7777
24732 Jericho Turnpike
FLORAL PARK, NY
First Funding Mortgage Bankers
(718)469-8000
4101 Church Avenue
BROOKLYN, NY
Century 21 Tulip Realty
(516)354-0500
145 Tulip Avenue
FLORAL PARK, 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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