The Problem: Sally’s finances were out of order. Struggling to make mortgage payments and watching interest pile up on existing debts, she was constantly anxious and knew she needed help. She had equity in her home, but with a poor credit score, she struggled to find a way to access it.
The Solution: Because SKYDAN is a real estate investment company, we weren’t concerned about Sally’s credit score or existing debt. Our only requirement is that customers have equity in their homes. By working with SKYDAN Equity Partners, Sally was able to access the equity she had built up in her home.
The Result: After accessing the equity in her home, Sally was able to take care of her outstanding debts and get her finances back in order. Today, she’s no longer stressed about mortgage payments or burdensome debts, and she’s still in her home!
A countless number of life events can have a significant impact on your finances: medical debt, property taxes, job loss, and more. For Sally, her finances were thrown out of order when she left a long-term relationship. With a poor credit score, her finances in disarray, and nowhere to turn for to help, she didn’t know what to do.
Eventually, bills started piling up and Sally began falling behind on mortgage payments. At this point, her daily life was punctuated by continuous stress about making ends meet. Moreover, she was frustrated with the traditional lending options from banks.
“I knew I had equity in my home,” Sally said, “but with my poor credit score, I didn’t know how I could convince a lender to give me a chance.” Sally faced a situation known to millions of homeowners across America: she had equity locked in her home, but no key to access it.
As time went on, Sally began to fear the worst. She didn’t know how much longer she’d be able to stay in her home. “I felt like I had no other option but to turn my home over to the bank,” she said. But finally, she found a ray of hope.
Unlocking the Equity in Sally’s Home
A quick Google search for solutions to her situation led Sally to SKYDAN Equity Partners’ website. She liked what she was seeing—almost too much. She didn’t want to get her hopes up because she knew it could end up just disappointing her.
“At first, I was very skeptical,” Sally said. “I thought it was too good to be true, but I was so relieved when I learned it was the real deal.”
From the start, the team at SKYDAN were upfront about whether they could help Sally. After a quick assessment to determine how much equity she had in her home, Sally qualified for the SKYDAN program and started to take the next steps.
Initially, Sally was anxious about the program. What if it really was too good to be true? What if it fell through? “It was embarrassing for me to need this service to begin with,” she said. But throughout the entire process, the SKYDAN team was right by Sally’s side, helping answer her questions and reassure her. “[The SKYDAN team] was so easy to talk to,” She said. “I felt like they were really experienced with working with folks like me.”
The SKYDAN process is always pressure-free. SKYDAN only works with homeowners when the fit is right for everyone involved, and Sally attested to their genuine investment in getting people like her back on a financially sustainable path. “I could tell they just wanted to help,” she said.
How Sally Used Her Home’s Equity to Get Out of Debt
Within a couple months of Sally’s first Google search and call to SKYDAN, she had closed on her home and had cash in hand. “Nobody was dragging their feet,” she said.
Since being able to access the equity she’d built up in her home, Sally has been able to pay off her existing debts, organize her finances, and ultimately achieve a peace of mind that she hadn’t felt in so long.
Gone was the period of stressing about home payments, watching the interest on other debts grow day by day, and watching her already-damaged credit score continually diminish. Today, Sally’s finances are under control, and she no longer worries about her home payments, all because she was able to access her home’s equity with SKYDAN.
Is SKYDAN’s Program Right for You?
Sally had recently left a long-term relationship, but countless life events can be the catalyst that forces you into uncomfortable financial waters. Costly illnesses and medical operations, accidents that prevent you from continuing in your regular job, property taxes, and more can leave you strapped for cash. If you have a poor credit score, getting the financing you need to cover those debts can be a nearly-impossible task, but at SKYDAN, we offer a new solution.
SKYDAN isn’t a bank or a lender; we’re a real estate investment company. We don’t care if you have a high DTI ratio, a low credit score, or even if you’re out of work. So long as you have equity in your home, we may be able to help you!