Is there a place that offers home equity loans to people that have bad credit?
my boyfriend and i own our home with no mortgage. we have around $76,000 of equity in our home but have bad credit. is there somewhere we can go for a loan that works with the better business bureau. i want to make sure its legit. A: $76,000 equity is a dream for a mortgage lender. They are loaning primarily on the equity on your house; not as much on your personally. The going rate on a 2nd mortgage ( another word for homeequity loan) is 8.25%. That is a fixed rate for 15 years. WIth bad credit you will pay 9.875%. Sorry but that is the penalty you pay for your previous mistakes. You can have the money 4 days after you apply.
