Can qualify for a HELOC if currently behind on mortgage payments?

Question

out of work for 8 months. have job now and can afford normal payments just not to catch up. trying to get loan to catch up and maybe pay of a couple other things as well

Answer 1

I don't think so.

Why would a bank lend you additional money, when your not currently meeting your current obligations.

Spend less money, save more, make more money.

The last thing you want to do is borrow more money and take even more steps back if you can't even meet your current obligations.

Answer 2

if your credit does not show your late payments, then try applying for a heloc. if not approved, look at a credit card and think about using it as a checking account, withdraw as you need to and deposit income every pay period. u1stfinancial.com has more information about this concept. look into it.

Answer 3

banks are cracking down right now because they arent getting paid anymore.... if you are currently not paying them then you will not get a heloc from that same bank...