It seems that when times are tough and you really need a loan that few lenders are willing to even discuss a loan if you have bad credit. I’m here to tell you otherwise – you might have to look a little further and try different lenders, but there are ALWAYS companies willing to work with you.
The bottom line is this – all equity loans are secured against your house, but it’s your credit rating that determines how easy it is to get an equity loan. As soon as you get an equity loan – make sure you make payments promptly and on time. This will help your credit rating and also potentially get you a better rate with the company that gave you a loan.