Bad Credit - No HELOC

[Janet Gonzales]

My current situation; I have over $250,000 in equity and can't get access to it because of bad credit. Attempted HELOC but NO GO... I don't want to sell..

Want to invest with the cash and rent my property that would generate passive income of $1,000! Is it too late to put the house under a business in order to obtain a HELOC and if so, how would I go about that process?

Help, I'm open to creative financing...  Any thoughts?

[Janet Gonzales]

Quote from @Dave Skow:

@Janet Gonzales- have you tried a regualr 1st mtg cash out refinance?  ( in addition to  trying to get a heloc ) .  Putting the property into a business name  likely will not help  with  getting a  heloc ?   What are the  credit scores and  are  you aware  of whats on the  credit  report now so you can begin working on repairing it  ( if possible ) - thanks and  good luck

 My score dropped due to cc utilization.