Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question Will I be able to get a home equity loan if I am currently in a forebearance agreement with my mortgage? We will be listed as "entering foreclosure" until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright? By D G Posted on 06/14/07 Total Answers 11 Answers- Go in and ask. Some lenders look at the score. PERIOD. Others actually look at you report and situation. Some will give anybody a loan but the rate varies with the score and report contents, others only want really good histories. Places like Beneficial Finance tend to be easier and more expensive. Places like banks tend to be pickier. Answer by : Bob On Date 2007-06-14 13:48:05 it will most likely be rejected because your credit has taken a recent hit. It will take a very special finance company to do that. Answer by : Bethy B On Date 2007-06-14 13:48:15 NO Answer by : John On Date 2007-06-14 13:48:59 Some lenders will look at it, provided you have excellent documentation. The interest rates will be exceptionally high, though, since the senior mortgage is in such a 'dangerous' situation. The reason is, if the new loan causes problems with your ability to pay on the forebearance plan, the new loan will be worthless. You might find it is actually cheaper to do a personal loan. Answer by : rlloydevans On Date 2007-06-14 14:05:35 May be I Can Help You: Just try: http://www.proloanz.com/Home_Equity_Loans.htm http://www.mortgagerefinancingatlowrate.com/Home-Equity-Loans.asp http://www.topamericanmortgage.com/home-equity-loans.asp http://www.apply4less.com/home_equity_loans.htm These are good links for Equity Loan Problem. Answer by : mark w On Date 2007-06-15 00:09:14   Go Back To Search Results