Bad Credit Mortgage Loans Aren't That Hard To Get

As it turns out, mortgages for people with bad credit are WAY easier to get than personal loans for bad credit will ever be. When you get mortgages for bad credit, the bank will take into consideration the possible equity of the home. They will usually use their own appraiser for this but as long as he/she thinks there is amply equity in the home, the bank will probably loan you the money. This is a much better situation than you're going to get with a personal loan when your credit is poor.

Another thing to consider is taking out a home equity loan instead of a personal loan when your credit is bad. It's a lot easier because it's less risk for the bank and that means the loan will probably carry an interest rate that's much lower.

Where did I find all this out? I read it in an article on a site that has taught me a lot about loans: Mortgage Loans For People With Bad Credit.