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we have a lot of debt and would like to take out a secound mortgage. Where could I look with somewhat bad creidt? I know dont say get ur spending under control becouse we have and have cut them all up but still need to pay off.. so where could I look?

4 Thoughts on where can i take out a second mortgage? with bad credit?
  1. Reply
    May 18, 2013 at 3:31 am

    Currently banks are not likely to lend with bad credit. I would advise talking to a credit counselor with a non-profit group to try to avoid the second mortgage. You don’t want to get in with a shady group and take out a 2nd that you can’t afford and lose the house. Be very careful!

  2. Reply
    Ask M
    May 18, 2013 at 3:36 am

    because of the subprime market, it would be very difficult
    to get a second mortgage.

  3. Reply
    Boston George
    May 18, 2013 at 3:53 am

    its hard right now but i have seen household fin and american gen

    expect rates over 12%

  4. Reply
    May 18, 2013 at 4:12 am

    This question brought the wolves out of the closet, to be plain and precise nowhere. Question is how much equity do you have in your home? If you have less than20% then your options are pretty much nil. In todays market the subprime loan market is gone, the Alt-A is gone, and the prime is under tougher standards. If by chance you do find a loand shark, and they are out there willing to loan you money be prepared to add yourself to the milions that will be facing foreclosure in the nex few months.

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