When applying for a home equity loan with a top-tier bank, what are
our approval chances if before 9 months ago, we had sterling
credit and now have 4 major credit cards (3 out of 14 credit cards (8
major, 5 store)  that are 9 months past due.  We have lots of equity
in our home ($450,000) and are never late on mortgage payments.  And
my husband's business looks more romising this year than last which
was a disaster;  I also plan to
return to work after stayiing home to parent.   We need the money now
and have reached settlements with the 4 outstanding cards to pay them
off, however.  Any tips on how we should position ourselves with bank
for
approval?  Any suggestions regarding good-standing banks which might
be open to our situation?  Past due card are with 1st USA (3 cards);
Citiank (1 card).  We have a current home equity loan with Banc One --
our primary bank -- and we have never been late with payments.  Should
we apply there?  Thank you.