Zillow Advice: Home Equity Loans - What to do? http://www.zillow.com/advice-thread/What-to-do/399590/ Zillow Advice | Zillow Real Estate Thanks for the advice everyone. ... http://www.zillow.com/advice-thread/What-to-do/399590/ Thanks for the advice everyone. &nbsp;I really appreciate it.<br/><br/>I took the advice and took out a loan from my 401K. &nbsp;I reviewed my credit report and spoke to the mortgage lender about which items I should focus on paying first. &nbsp;I basically mapped out the items that I can pay off with the greatest immediate impact to my score, and then planned on a schedule for finishing off the remaining few items that are current but I would like to close. &nbsp;<br/><br/>The mortgage lender is going to run the Rapid Rescore for me after I've paid down the balances but she told me that it's going to be $90 per line. &nbsp;Is that a fair price? &nbsp;She said $30 per bureau, per line. &nbsp;Ouch. &nbsp;This is going to hurt if that's true......<br/><br/><br/>Anyway, thanks again for the advice. &nbsp; Thu, 19 May 2011 23:28:00 GMT http://www.zillow.com/advice-thread/What-to-do/399590/ 2011-05-19T23:28:00Z I agree that you ned to work ... http://www.zillow.com/advice-thread/What-to-do/399590/ I agree that you ned to work on your scores.&nbsp;&nbsp;Is your company (work) affiliated with&nbsp;a credit union?&nbsp; Sometimes a credit union will help when no one else will.&nbsp; They can use your work history with the company as a strength and deduct payments directly from payroll.&nbsp; This in itself will help raise your scores.&nbsp; <br/><br/>I hope this helps.&nbsp; Thu, 19 May 2011 20:28:00 GMT http://www.zillow.com/advice-thread/What-to-do/399590/ 2011-05-19T20:28:00Z You need to work on getting ... http://www.zillow.com/advice-thread/What-to-do/399590/ You need to work on getting you score up at least 80 points.&nbsp; Wait a few months and repull credit after those disputes you registered get resolved.&nbsp; With your situation and a 600 score you have zero chance of getting a refinance, let alone a HELOC.&nbsp; With a 680+ score you have a better chance of getting a automated approval when your loan is submitted(this means the bank will not nit pick everything once they start to physically underwrite your loan)).<br/><br/>If you have any credit cards, pay the balances down and your credit will improve.&nbsp; Dispute everything negative on your credit report as well.<br/><br/>Hope this helps.<br/><br/>Paul Thu, 19 May 2011 18:30:00 GMT http://www.zillow.com/advice-thread/What-to-do/399590/ 2011-05-19T18:30:00Z Work on the credit score.&nbsp; ... http://www.zillow.com/advice-thread/What-to-do/399590/ Work on the credit score.&nbsp; Clean up what you can and do your best to pay everything on time.<br/><br/>Also, I don't know of many places that will do a home equity loan on a rental property.&nbsp; Either way, you will need your credit score higher so this should be job #1. Thu, 19 May 2011 14:32:00 GMT http://www.zillow.com/advice-thread/What-to-do/399590/ 2011-05-19T14:32:00Z I suggest speaking with a ... http://www.zillow.com/advice-thread/What-to-do/399590/ I suggest speaking with a local lender vs. applying online. They can give you advice as to if &amp; what you can do as far as a home equity line. Thu, 19 May 2011 14:17:00 GMT http://www.zillow.com/advice-thread/What-to-do/399590/ 2011-05-19T14:17:00Z