My husband and I just closed on a refi of our old subprime loan (10.7%) with a FHA loan at 7%. Now we want to take out some of the equity that we had to put in last year to buy the house in order to establish an emergency fund until we can build more savings and pay down some other debts. My current scores are: EQ: 688, EX: 588 and TU: 570? I want to try to get it in my name... My husband carries the mortgage on his own. Any ideas of banks that might approve me? Or are there some banks that might use just one source for a home equity loan? Thanks
The equity loan has to be in the same names as the property title - one or both of you. I had an AWESOME experience with Morgan Stanley (www.discoverhomeloans.com). Everything was done by mail/fed ex and it was quick and painless. Good luck, -mj
My credit union only pulled one report (experian) for home equity loan. They were denying me at 596 CE. Once I made it to 664 CE I tried again and they approved it.
