Best place for second/heloc

[Anonymous]

MY DTI is currently 12%

My LTV is currntly in the 73% range

My FICO(due to some issue in the recession) is about 550

Where is the best place to look for a HELOC/Second that will get me to 85% LTV....I read that banks are loosening up and focusing more on the fundamentals(income, debt, documentation, etc) but cant find any that are actually do this.

[Anonymous]

With your score it will be rather difficult to find a lender. What state do you live in? Some states do not allow CLTVs above 80%, and most lenders don't allow above regardless of the state. I would look at local community banks or CUs where you can actually work with the loan officer and explain why you would be a worthwhile "risk" (as any borrower is in the bank's eyes) to the bank. 

[Anonymous]

Just to give an example the lowest FICO I was able to get approved while working at a top 5 bank was in the 620s....and I had to fight to get it done. I'm afraid most branch bankers wouldn't know how to appeal declined apps....I just happened to work with a mortgage brokerage to do the HELOCs so my volume was very high.