The only way to rebuild your credit score is to create a positive payment history. With a line of credit, you can use your home as collateral for a low interest loan. By just using a little credit each month and then paying it off, you can have a good credit score in two years.
If you need a loan for home repairs or other needs, a second mortgage allows you to cash out part of your home's value while keeping your low rate first mortgage. Second mortgages usually have higher rates but shorter terms. While making on-time payments will help your credit, it's better to start with a secured credit card.
After a couple of years after your bankruptcy discharge, consider refinancing for a prime loan. By this time, your credit should be in good standing, so you can qualify for low rates on any type of financing. www.worldbestloans.com
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