If you live in Georgia, and you need to know a mortgage refinance loans, but you’re worried about bad credit – that it is possible to obtain a HELOC or Home Equity Loaneven with a low credit score be it 450, 500 or 550.-Texas Home Equity
What is your FICO credit score?
Your FICO (Fair Isaac Corporation) score is number between 300 and 850, that indicates your financial health. A good FICO score is a score above 670, while a poor FICO score is a score below 620. Different lenders vary of what they consider a “fair” credit score versus a “poor credit score” – this
can be a gray line.
Having a good credit score allows you to get credit on competitive terms – good interest rates, exciting new loan products, credit cards, etc.-Texas Home Equity
If you have a low credit score below 600, you will need to find a subprime refinance lender, who works with people with bad credit, whether it is due to poor debt management or a history of Chapter 7 or Chapter 13 bankruptcy.
Not all subprime lenders are created equal. The best lender is a lender, who is willing to look at your specific situation and find you the best loan product. Even though, you may have a low credit score, you can also have good equity in your home. Some lenders even offer up to 125% LTV (Loan to value) loans, if you qualify. read more http://www.texashomeequity.equitylinesite.com/2009/09/25/georgia-refinance-loans-with-bad-credit-in-atlanta-savannah-augusta-athens-columbus-macon-etc/
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