I own my home free and clear, and am interested in getting a home equity loan. The problem is, I have terrible credit. I even have a judgement due to an ex boyfriend opening a card in my name, maxing it out, never paying it, and then never informing me about the letters from the court! Most of my dilinquent accounts are due to fall off this year and next year. I don't have any positive accounts though, I do have student loans, but I'm in school so I'm not making payments on them. I'd like to get a home equity loan for around $20,000. (I would use part of this money to pay negative accounts) My fico score is 568, I do have a relative who has excellent credit and is willing to co-sign, however, I've been told that a cosigner won't help my situation. Does anyone know of any place that may be willing to give me a home equity loan? As I said, I own my home free and clear so I have a lot of equity in it compared to the amount I'm requesting. Do I have any options, or will I just have to wait until I improve my credit?
