Mortgage Tips: Pros and Cons of Refinance Loans for People with Bad Credit

By: Hunter Lending Team

Published on: 25/07/2024

If you’re stuck under some high credit card bills and your credit rating is slipping, one of the best ways to immediately improve your credit is a home equity loan. When the loan closes, home owners have cash-on-hand to pay off bills. The result: their credit rating starts to improve immediately. Banking executive Dan Ambrose refers to those as the “band-aid loan”, also known as the 2/28 in mortgage lingo. “Most sub-time loans are short term loans.