Posted on: 15th Jun, 2012 02:00 am
my and my sister inherited a house from our grandparents. my sister is very fond of the house and wants to stay there so we’re remodeling the house. the property has equity and we want to take out a home equity loan for home improvements. we have bad credit. will we be able to get a mortgage?
Welcome Jen,
You can check out the given page in order to know some of the steps to improve your sister's as well as your credit score: http://www.mortgagefit.com/credit-rating/credit-repair.html
You can check out the given page in order to know some of the steps to improve your sister's as well as your credit score: http://www.mortgagefit.com/credit-rating/credit-repair.html
You can get a Reverse Mortgage or Hard Money loan, because neither require good credit. If either of you are 62, you can get a Reverse Mortgage. If you're under 62, you can get a Hard Money loan. For either solution, you've got to have at least 50% equity.
