Help! Loan matures in February and funds are depleted!

[Thomas Breedlove]

HELP!!! I have a loan maturing in February and I'm out of money for the Flip because it went on way longer than it should have and the last thing that is needed is a roof estimated at about $8800. I got this fix and flip around October of last year and the contractor I had hired was always behind and lying to me about actually being at the property and fixing things up. I was in the Military recently EASed, but while I was in it was hard for me to check on the project with my schedule. Well now I'm coming towards the end of the loan and obviously roofers don't want to do work where someone doesn't have the money and I have asked if they would accept me paying them out of closing and they said no. So I dont really know where to go from here. I just got my license and I know a bank won't refinance or loan me money because I just got started and don't have stable income. Any advice or help would be very much appreciated!

[Kyle J.]

If truly all it needs is a new roof to be complete and ready to sell then a few ideas off the top of my head could be:

1)  Borrow the money from friends or family to replace the roof

2)  Put the cost of the roof on a no/low interest credit card and pay it off as soon as the house sells

3)  Go through a home improvement store (like Home Depot) that offers financing for larger projects like roof replacement

4)  Don't replace the roof and just lower your sales price or offer the buyers a credit to fix it themselves after closing