WWJ Detroit - Newswatch
July 5, 2002

Ways to Get a Home Loan Even With Poor Credit

MODERATOR: It's time to check your money on WWJ with the Wall Street Journal.

Quite a rally for the markets today, the Dow closing up 324 points at 9379. For the week it was up 136 points, or 1-1/2%. The NASDAQ closed up 68 points today but for the week, down still - 14 or 1%. The S&P was up 35.

Having bad credit doesn't have to be a death sentence. There are some ways you can still get a home equity loan even with a poor rating. Michael Moskowitz is the president of Equity Now in New York.

MICHAEL MOSKOWITZ: I suggest that people straighten out their credit, pay everything on time for a year, send away for their copy of their credit report, get a copy of their credit reports from a lender, get to know what their credit scores are, not be late on the mortgage.

MODERATOR: I'm Adam Woden at the Wall Street Journal.