How can I access the equity in my personal home with bad credit?

[Jermaine Waldron]

I currently have more equity than I owe on my mortgage, however I have a bad personal credit score. This has been a thorn in my side trying to access the equity. I am unable to qualify for a refinance, HELOC, loan, etc. I have even thought outside the box. I thought about a leaseback with my parents that would give them a rental property and not only help me to get out of the poor credit situation, but also allow me to fund real estate goals. Any thoughts of what I could possibly do is welcomed. Also, would hard money/private money or traditional lenders be able to use my equity as collateral or down payment despite my credit score? How can I get the equity from my personal home?

[Kerry Baird]

@Jermaine Waldron, it happens to the best of us.  I renovate, my credit cards get full and it can be immobilizing.  That debt snowball is the way to move forward.  That, and selling things, doing a side hustle, and so forth.  

Reduce utilization of individual cards below thresholds- 89%, 69%, 49%, 29%, 9% being big ones along the way. The sweet spot for utilization and DTI is 41% so aim to get your debts below those thresholds.