Obtaining a loan using our house as collateral

[Tulsamike]

Does anyone have any resources to help? We own our home (no mortgage owed) and need to get a loan using the house as collateral. All banks and credit unions I've called so far said no. My credit score is 580, kinda low, but you would think using the house to secure the loan it would be easy to get.Are there any lenders that you folks know of that might help? We let our daughter live in our house rent free for several years while we lived out of state,with the understanding that all they had to do was pay the property taxes! Well, that didn't happen and now we're in danger of losing the house, so any ideas would be appreciated! Thanks

[Admin]

We at need help paying bills are not familiar with this type of loan or request. However, someone who may be familiar with it, or can guide you through the process, is a HUD approved counseling agency. Select your state using this link. http://needhelppayingbills.com/html/hud ... _help.html Most of these are non-profits that provide free advice, guidance, and can help people deal with various housing issues, like property tax, mortgages, loans, and other housing issues. A listing of contacts and phone numbers for HUD agencies is on the link.

[JD Vance]

Hello, my name is Cali.
I’m in need of some help. Today I received a two-week eviction notice. I’ve been unemployed since November, so I need a loan using only my collateral of my house. I have permanent sciatic damage, and I haven’t been able to find a job since then, and I didn’t qualify for unemployment or worker’s compensation. I’ve called good will, and my local chamber of commerce, and Benton County health department, all of which started processing my request but I either wasn’t approved or can’t get ahold of them due to high volume of applicants; and my landlord isn’t giving me more time, as I’m behind by several months. I owe $3,800 in rent, and $1800 in utilities.
I don’t know how loans work and what type of collateral other than a house you need. I don’t know if I would qualify to take one out. I’m currently going through the appeals process for disability. I know that disability loans use future social security back pay as collateral - though I’ve been told it’ll be another 8 months or more before I get another chance to appeal in court, so I have no idea how that would work.
I know this is a lot of information to receive at once, I just don’t know what my resources are, beyond what I’ve already tried. If you could point me in any direction at all that would be greatly appreciated.