Can I USE my house to get Secured Personal Loan ?

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Can get a secured Bank Loan easily ? Compared to heloc ?
I have just started new job, but it is website project and dont get paid UNTIL late feb
My credit is under dispute and is bad right now.
I have a mortgage on my house but have NOT been able to get a HELOC from anyone.
they all want to refi first mortgage but wont give 2nd loan/heloc
I ONLY need 9,000 dollars. (had accident last year, lost my grandmother, aunt and had surgery and emergency car/house repairs – so thats my hard luck story)
Just a short term loan for immediate bills.
Im soooo desperate right now that loan sharks seriously sound good.
i dont give a crap about interest rate.
ANyway how easy would it be to get a secured loan using my house with a bank ?
My first loan is 336,000 but I have at least 160,000 in pure equity.
Do not give me ANY links to sites.
Just need advice on approaching banks (im in pennsylvania)
help!

1 Comment
  1. Reply
    Steven L
    May 1, 2011 at 3:53 am

    My advice is to completely refinance and take cash out. Why would you take a secured loan for only $ 9,000? Rates are really low right now so you might be lowering your rate anyway if you do a full refi. Even with bad credit, your rate won’t be bad because of the equity you have built in (over 50%). Do a debt consolidation refi, your overall payments will probably be less and you will start to rebuild your credit.

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