It is a sad reality in the current economic climate that bad credit scores are common place. Traditionally, these low ratings would mean that the chances of securing a loan were severely hindered, and while the are certainly affected, the fact is that home equity commercial loans with bad credit are more accessible than might be thought.
The good news is that today, lenders are a little more understanding about the reasons a person might have developed a low credit score; the bad news is that high interest rates and low loan limits are the consequence. But, this should not put homeowners off securing a home equity loan with bad credit.
In fact, there is no reason why a homeowner should think they have no chance of securing that loan. Property is considered a solid investment, so as long as a home has free equity, there is every likelihood that … Read the rest