Can You Take Equity out of Your Home with Bad Credit?
You might think that there aren’t many people who have a lot of equity in their home and also have credit issues. After all, you have to get approved for a mortgage and then make regular payments on that mortgage for the better part of a decade to build up the level of equity that would make a loan against it worth the fees.
However, a lot of people run into financial difficulties after they have been making their mortgage payments for a long time. Sometimes it’s a medical condition that keeps one of the two income earners in the home from being able to earn a salary, and the family depended on both salaries to make ends meet. There are also the costs associated with treatment of that condition, so you can get into a situation where you’re bleeding cash but you’re making that mortgage payment every month after all, you need a place to live. Sigue leyendo Can You Take Equity out of Your Home with Bad Credit?
