Question:

How to obtain quality poor credit home equity loans for debt settlement and/or consolidation?

Answer:

If your credit is real bad, you certainly don't want to just go and get any of those poor credit home equity loans. Bad credit home loans with borrower-unfriendly terms are of no use and you risk either foreclosure, or accumulating more debt.

What you really need is a company specializing in bad credit home equity loans and perhaps offering credit improvement advice and/or services. If you need a poor credit mortgage or home equity line of credit (HELOC), chances are you also need debt settlement or credit consolidation help.

How to find a quality mortgage company doing poor credit home equity loans?

You are advised to use a financial advisor or friends' referrals. You'd better use someone with proven track of successful and affordable services.

It is also possible to find bad credit loans companies online. However, talk to them at length and demand all terms, costs and rates in writing before you decide to sign up.

Direct Internet lenders can also be a great option for cheaper poor credit home equity lending. Due to the advance of technology, some internet lenders might be able to get you an inexpensive loan underwritten for more lenient requirements and with lowest loan costs.

Some bad credit home equity loan providers may not need FICO or credit history.

Average 500 FICO score may be the lower credit score limit for getting a bad credit loan - secured or unsecured.

However, professional bad credit or affordable lending companies have a No FICO loan option. That is, if you are in foreclosure, or in bankruptcy, a foreign national with no credit history, a lot of 90 or 120-day lates, or your FICO is so low you might try participating into a loan program where your credit scores and history is not considered at all.

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