With your history of poor credit ratings, no wonder getting home equity loans with bad credit is a disheartening task. If you have failed to pay on a loan or even missed a couple of credit card payments, financial companies will label you as a bad credit risk, really quickly.Bad credit is the term used for a poor credit rating. It should be noted however that bad rating does not equate to dishonesty and deceitfulness. Rather it is the consequence of late payment, exceeded credit limit, overdraft, and declaring bankruptcy. Whether the default of an account is on purpose or attributed to financial crisis, the resulting credit rating given is still the same.So what will you do when you need the money to use for just about everything? Fixing your credit rating is the best solution. Paying off or maintaining a minimal amount on your credit cards, paying overdue bills and such. Bad credit is harder to fix especially in the presence of outstanding bills. But this solution is not for everyone.Your Future is more Important than your PastGetting home equity line of credit or loans with bad credit may be a solution, if you can handle your finances well. Some lenders do accommodate homeowners with a bad credit history. One such lender is ditech.com, whose slogan runs “To us, your future is more important than your past”. If you are looking to reestablish your credit, ditech.com can help with your home financing needs even if you have imperfect credit. They offer clients cash out equity and consolidate high interest and credit card debt. If you are interested in checking out ditech.com, maybe they can offer you a home equity loan with bad credit rating.www.ditech.com can be contacted by this number: 1-800-700-9054Cash Poor but House RichUsing loans to strengthen bad credit ratings is already a common venture for those wanting to step clear of a debt pitfall, though some would have a complicated time in getting a equity lender to accommodate the loan. But over the years, another devise has emerged from insignificance to become a major component in refinancing. Reverse Mortgage is one hot topic these days. Unlike home equity where you have to have an income to qualify or monthly bills to pay, reverse mortgage works opposite. It pays back to you. But to be eligible for most reverse mortgage plans, you must be over 62 years of age and be the legitimate owner of the home. You are paid for the home’s equity which you can get as a lump sum, a monthly check, a credit line or a combination of the stated options.Concisely, home equity loans with a bad credit history are always bad business for financial companies. But that does not mean you apply for a loan because of delayed payments, it is only a matter of knowing where to look.