Where is my best chance to be approved for a home equity line of credit?
Tags:credit card debt, equity line of credit, home equity line, home equity line of credit, home equity loan,
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I’ve slipped as well as let me credit measure get the small low. Today we practical for the home equity line of credit by CITI where we have my initial debt as well as was declined. we would similar to to acquire this loan to boon credit label debt as well as get my finance management underneath control. Where or what monetary establishment is my most appropriate possibility to be authorized for the home equity loan or line of credit?
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Ask Citi why they declined it…. and then work on the areas you need to improve to qualify for this type of loan.
Be careful not to run from one bank to another… everytime they check your credit… your score drops even further.
If Citi, who holds your mortgage, does not approve you… then chances are no other bank will do it either.
Ask yourself: Do you have enough equity built up in your house?
What is your house worth right now. Compare listing prices of similar homes in your area. How much of the mortgage is paid off already?
If you bought within the last 5 years… chances are you still owe too much to qualify for a home equity line of credit.
Cut up the credit cards and start paying them down… the times when you got a HELOC to pay off the cards are over.
If Citi denied it, everyone else probably will also. You might try Regions Bank. I had good luck with ones I have with them.