Will I qualify with equity to cover debts?

[lukicharmz]

I am in debt in the neighborhood of 25,000. I am between 60 and 90 days delinquent on all accounts. I recently found out that I have about $70,000 equity in our primary residence however, due to our poor credit scores (med to low 400's) nobody will refi us. We could afford the debt if it were included in a refi as the monthly payments would not be as high. Is selling my home the only option at this point? I have heard that there are investors who will buy your home and let you lease it back and I have been told that there are 'hard money' lenders that could help but I don't know anything about them.

Any suggestions are appreciated!

[mwgreco]

What state are you located in?

There are a few programs that won't look at your credit rating.. What state are you in? Thank you, Michael

[HHM]

If your already behind, it is probably wishful thinking that you could afford the payment on a refi.

You don't want to get involved with hard money ledning. The most economically option for you is either consumer credit counseling or a chapter 13. Your credit is already shot, so you might as well make the best economic decision and try to pay back as little as possible.

[lukicharmz]

Hi Michael...
I live in Arizona. Thank you for replying to my post!