My credit is not the best and i have asked my mortgage?

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My credit is not the best and i have asked my mortgage?

This is a major mistake that people make.

They have equity in the house, so they take this equity and pay down debt - which isn't a bad idea. However, then the person is "debt" free and with a short point of time, they are back in debt AND have no equity in the house.

I strongly suggest that you work to pay off the debt you have WITHOUT an equity loan. Take a part time job, etc.

Save the equity for later. Maybe retirement, etc.

My credit is not the best and i have asked my mortgage?

explain to them that u are using funds to pay off AND CLOSe existing accounts that may be delinquent...banks are getting very edgy about lending and have tightend standards in the wake of the "credit crunch" they made high risk loans (too much of a loan vs equity in house or to less than crdit worthy folks) and are getting burned...try a local bank 1st, especially one you have a relationship with...i have several mtgs and started with only 1 and good credit bu use the same local bank and have a relationshsip there...takes time but it works...also if you make improvements in the home the bnk is getting a deal as the value of you home goes up (in th

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My credit is not the best and i have asked my mortgage?

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