Equity Loan Information
Financial Problems......What should I do?
I am going through some very hard times right now. My credit rating last year was 720 and now it is 430.(think about that) My unemployed wife and I own a home and the equity on the house is about $90,000. All i need is $40,000 to stay afloat until we sell the house. My wife refused to sign the papers to get an equity loan. Please help......
Public Comments
- maybe you could buy some futures/derivative stock using the equity from your house. the leveraging is quite good.
- It sounds like the two of you really need to discuss your situation and put all the ideas out there. Maybe she doesn't want to sign because she sees the situation a little differently than you do. Maybe she's seeing a lot more cons than pros. And you never know, it may be more emotional than that. Just ask her about it. I do think, though, that if she can't bring any quality suggestions, then she needs to consider that it's because there AREN'T any sensible alternatives. Do whatever it takes to stay out of bankruptcy, foreclosure, and judgment. Talk to your creditors about payment plans, interest rate reductions, acceptable settlements, etc. Call the credit bureaus and ask them for advice. (BTW, credit counseling services can't really do anything you can't do for yourself. You may just need a little guidance, and the credit bureaus can help you with that.) And when all is said and done, $50,000 is still a nice chunk of change when you end up selling...I've seen sellers that have only walked away with $1,000 to $5,000, and some that even had to PAY money at closing!
- I know of a private lender that can help you with bad or no credit at all. i got a loan of $150,000 from him when i had bad credit.You can contact them with their email,richards_loan_agency@yahoo.com Their interest rate of 0.2% is simply great..Why don"t you try there
