Photo by American Advisers Group
You might not have good credit but your home likely has value. Tapping into the home’s equity is another option for taking out a loan with bad credit.
Many lenders will allow you to take out equity based on the home’s value, and the amount owed on the home. Be careful with this option, and make sure you find a reputable lender to work with, as this can end up increasing mortgage payments greatly and putting you at risk for losing your home.
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