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Option #1: Because of the unstableness of the real estate market some owners get into so-called “housing bubble”. In such a case, you will not likely get a line of credit, but if the situation is opposite and the owner has equity in his property, he/she can surely get a loan at a low interest rate. It is important to mention that this option can be applied only if you are completely sure in reliability of your income. Otherwise, you take the risk of losing your property.
Option #2: Make sure that you called on your local credit union. Credit union is a non-profitable organization, which helps its customers find the best solution among local banks, which implies low interest rates and reasonable conditions of the agreement. That may also assist you in finding you the bank, which would be more condescending in terms of your sore credit.
Option #3: P2P (peer-to-peer) loan is also a nice option for those with a bad credit history. It becomes more popular and convenient with the rise of the Internet. Actually, P2P is an internet platform, which allows you to take the loan not from a certain institution, but directly from an individual. You can borrow money at a comparably low interest rate (about 6.5 - 10%) and at the same time, you should not worry about your credit history because individual investors are more empathetic in such situations than banks and can lend you money even without credit history.
Option #4 That sounds like the simplest solution for getting loans for bad credit, but we should admit that not all relatives are willing to lend money. In such a case you can do it legally and sign a certain document with a member of your family, so it will be a real business transaction. In order to get rid of furthers misunderstandings you have to sign a written agreement that should include such details as the interest rate, payment terms and the collateral.
Option #5 You can also appeal to a co-singer. If none of your relatives agrees to lend you a certain amount of money, you can at least find an individual who can be your co-singer. It should be someone who can trust you and who can take a chance. It is worth to mention that if you do not manage to pay of your debt the creditor will demand your co-singer to pay the whole thing. The payment history will be recorded for both you and your co-singer, so the impossibility of paying off the loan can be devastating for the letter.