Looking for someone who will fight for us. We have 100% equity in our recently appraised $300k house. We are trying to take $100k cash out to consolidate debt and finish some home repairs. But obviously, credit is an issue. We have the income, just had some super hard life happen that impacted credit last year. We had to close a business because someone was stalking us & I had to take out a restraining order. Just need an opportunity to prove that we are worthy so we can get back out of the hole! Please help!
Your problem is it seems you simply don’t payback anyone - a FICO below 500 is as hard to get as one above 800 - you really work to get those scores. Anyone’s reward for ‘fighting for you’ will be to not get paid back it seems. Fight for yourself, improve credit then seek the loan.
@Blake
This is so true you almost have to try to be below 500
Just fix your credit. You’re not getting anything with that score.
Why should anyone ‘fight for you’? Lenders are in the business of making money, not sponsoring people. If you have the income use it to pay down your debts. Also, who’s paying for the upcoming Hawaiian vacation?
@Kingsley
Mastercard
Yeah his name is Tony and he has a crooked nose
Hella L’s, God I love this forum
You are better off getting with a legitimate credit repair professional. Not one of those stupid debt consolidation places. You need someone who works to get derogatory accounts like collections and late payments deleted. I’ve had good luck with UQual and United Credit Advisors. Sometimes they can even get things totally deleted without you paying the debt.
You won’t get a loan for a double whopper with a 500
How about BK? Re-establish trade lines and go from there. If you own your house free and clear but not sure how bk attorney sees that
No one can fight for you since the system says you messed yourself up with a lower credit score. The only way out of the hole is to sell your house and rent forever.
You’re just in a real tough spot. Your best option would be some family or friend willing to risk your family/friendship and their savings by lending you a massive amount of money. Barring that, you’re looking at hard money lenders with some pretty extraordinary terms and interest rates. Prove you’re worthy by consistently paying your debts and in time you’ll be able to get reasonable financing.
Are you behind on anything right now? I would try to work with someone in credit repair to see how to what you need to do to get your score up. It will be super hard if not impossible to get a loan with that credit score. If you are able to, as others have said, it will be a hard money loan and the rate will be really high and might not be all that helpful in the long run
Even if someone could get you that. And you still have a job and meet income requirements. I would advise against it. With that sort of credit score you will get a horrible rate. And essentially end up paying thousands more in interest
I agree better to work on credit repair but check into whatsamortgage on Instagram he may be able to help you with what you need for your specific situation.