Getting a Bad Credit Home Equity Loan Syracuse NY

While getting a home equity loan in Syracuse 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
Bank of America - North Plaza
800.432.1000
3600 Brewerton Rd
North Syracuse, NY
Lance D. Wiltse Agency
(315)668-3882
9523 Brewerton Rd
Brewerton, NY
Wells Fargo Financial
(315)458-0074
628 S Main St Peters Shopping Cent
SYRACUSE, NY
Nvr Mortgage Finance Inc
(315) 451-1839
159 Dwight Park Cir
Syracuse, NY
HSBC Bank
1.800.975.HSBC (4722)
St Joseph'S Hospital 500 N Salina St
Syracuse, NY
Citizens Bank - Camillus/Wal-Mart
315-468-8622
5399 West Genesee St.
Camillus, NY
Bank of America - Bayberry
800.432.1000
7608 Oswego Rd
Liverpool, NY
Ims Group Northeast Corporation
(315)488-4800
4927 West Genesee Street
Camillus, NY
Citifinancial
(315)699-4950
6195 State Route 31
CICERO, 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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