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What Is Bad Credit Equity

I have been trying to get as much information as possible before we try to buy a house. I am really not too sure how the lending process works, and neither is my husband. We are supposed to go talk to a banker on Tuesday, but I would like to at least know a few things before we show up at the office. I am really confused about bad credit equity. What exactly does that  mean? I am really lost on the meaning and am not even sure if it will apply to us when we are trying to get a loan.

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