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Updated over 1 year ago,

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

Jermaine Waldron
Posted

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?

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