HELOC for Less Than Perfect Credit

Author: scarymary
Posted: Thu Oct 06, 2005 11:33 am
Post subject: Please help with HELOC!!! -

OK... in the past 4 days I have applied to...

ING
Commerce
Bank of America

All have declined hubby and me for a HELOC.

House is worth $250k
Mortgage bal is $112,577
Income is $82K
Credit scores in mid-600's

We desparately need to put a roof on the house.

Any idea where to go next??????????????????????????????????????

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Author: ams370
Posted: Thu Oct 06, 2005 1:20 pm
Post subject: HELOC for Less Than Perfect Credit

Hi! My husband and i just got approved for a HELOC. Now, it doesn't have the best interest rate, but it is better than the credit cards interest rates that we are going to pay off with it. Our credit scores are not good, 500's & 600's. We went through homeloancenter.com. They match you up with a lender. They were very helpful and we applied an got approved in a matter of 2 weeks. Let me know if you need any other info.

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Author: scarymary
Posted: Thu Oct 06, 2005 1:49 pm
Post subject: HELOC for Less Than Perfect Credit

Thanks so much for the info. Actually, I just got approved!!! Bank One/Chase felt that we weren't as big of losers as the other banks did!! LOL

I went on lendingtree.com and had an approval in an hour.

Also, inquiries for mortgages and equity loans/lines, if made within a 14 day period, only count as one inquiry.

As a Realtor, I could have gone thru my own mortgage broker but I am reluctant to share my personal financial info with people I work with... just my own hang up, I guess.

Thanks so much fo sharing your ideas with me...