my house is worth about $550k.. My credit score is 559 right now, due to my excessive credit card and student loan debt.. nothing has ever been late, it's just that i have excessive amounts of these debts.. i make about $2,600 dollars a month, and i'm wondering if i will be able to get a home loan for about $100k so that i can pay everything off.. (my house is 100% paid off).. will i have a problem getting this home equity loan?? should i even both applying or should i just wait until i pay down my credit cards more?? advice anyone?

I do not think you will have any problem in getting the equity loan, but better think before taking the loan ... See if you can reduce your monthly expenses and pay as much debt as you can... and taking more debt means more tentions

The home loan scheme offers a discount in the interest rate for the first three years. The interest rate structure of the scheme remains unchanged, said a top SBI official.