Posted on: 08th Dec, 2008 02:52 am
I need a $4000 loan to keep my house out of foreclosure. I have a business with two buildings on it. The buildings are paid for free in clear. I have bad credit as a result of losing my job two years ago and some medical bills that I paid off. Do you know any banks that would loan me this money? I am working full time now and trying to catch up on my past due bills.
Hi moore
Keeping in mind the present market situation, I don't think the banks will offer you money with a bad credit. Though you have a collateral to use, but the lenders will not agree to give you a loan because you already have one. However, you can try for a personal loan if possible but they are available at a very high rate.
You can also try to improve your credit. Check out some of the options to improve credit from the given link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks.
Keeping in mind the present market situation, I don't think the banks will offer you money with a bad credit. Though you have a collateral to use, but the lenders will not agree to give you a loan because you already have one. However, you can try for a personal loan if possible but they are available at a very high rate.
You can also try to improve your credit. Check out some of the options to improve credit from the given link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
Thanks.