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Home Equity Loan for Bad Credit in Cicero Alternative

Getting rejected for a home equity loan can have a devastating effect on plans for home repairs, renovations or if the money was earmarked for debt consolidation. Perhaps the bank has already denied a home equity loan application. It can be easy to become discouraged. However, a setback is only temporary, and a homeowner can pivot towards an opportunity for an even better outcome. Simply put, it’s not a time to give up. Step away from the traditional ways of doing things and find a creative solution and home equity loan alternative.


Being Rejected for Home Equity Loan Because of Bad Credit in Cicero


Typically, a home equity loan is easier to qualify for than a revolving line of credit. The home is used as collateral; therefore, lenders are usually satisfied with taking a risk with a borrower, especially with a credit score that reflects a good payment history. The risks, however, go up for a home equity loan for bad credit in Cicero.


A rejection means there’s something within the credit history or application that the lender has determined does not meet their lending criteria. It could be for a multitude of reasons, and they must provide the specific reason and the credit reporting agency used to process the application. Although there isn’t usually any recourse available, it doesn’t mean there isn’t a home equity loan alternative. The homeowner needs to get creative and “think outside of the box.”


Understanding a Credit Score


A credit score can range from 300 to 850, and a homeowner on the low end of the spectrum will always have a harder time getting approved for a home equity loan, even when they have substantial equity. A person who has a credit score of 669 or less is considered a higher risk for lenders and a subprime borrower if they can even qualify. An individual with bad credit is anyone who has a score that is below 600. Many homeowners with large equity fall somewhere in this range and can benefit from our sale and leaseback program.


Home Equity Solution with Peace of Mind and Empowerment


In addition to being a safe-haven and a great bit of a homeowner’s security, a home is a valuable resource for gaining access to cash. In today’s economy money runs through one’s fingers faster than ever and homeowners may need to get the equity fast and without a lot of restrictions.


After being in the real estate industry since 2004, SKYDAN Equity Partners has honed in the skills to help homeowners get the money they need while eliminating credit as a requirement. Financial hardships can happen to anyone and the first thing that’s usually affected is a person’s credit. We understand this fact, whereas lenders offering a home equity loan bad credit in Cicero can’t see past the bottom-line and red tape. That’s why our business model includes a sale and leaseback program that doesn’t make gaining access to the equity a complicated process. We have completely eliminated credit as an issue for accessing up to $250,000 in home equity. Bad credit, poor credit or no credit is not an issue with SKYDAN Equity Partners.


Our sale and leaseback program has the following benefits:


  • Zero Interest Option
  • Deferred Mortgage Payments
  • Bankruptcy Relief or Payoff
  • Tax Lien Relief
  • Avoiding Foreclosure


SKYDAN Equity Partners is committed to financially empowering the community. Our mission is to provide homeowners easy access to home-equity wealth so they can achieve their financial goals while also gaining peace of mind. Apply now to discover how much equity can be accessed within 30 days or less!