Millionaire that can't get a simple loan, need suggestions

[Matthew W.]

I had a well though thought strategic default (under legal guidance) in 2010 on a residential RE property. Back then, the lawyer told me it would hurt me for only 3-5 years max. Well that is not the case at all, and I am damaged goods until October of 2020 - I cant refinance and can't get a HELOC. (If you wonder why its that long, blame a clerical error or the length of time it took to process). Even my broker says ...nope, laws are changed.

This is comically insane, as I literally have a verified 760+ credit score (even with the default), over 1.7 million dollars in assets ($180K of this IN CASH), own 2 rental properties, 1 of which is fully paid for, and am invested in 4 other multi family complexes.  I make $250K a YEAR.  I have DECADES of perfect credit with the exception of this default, which ironically was GOOD FINANCIAL SENSE.

.....aaaaaand I can't get a pip-squeak 100K HELOC loan - something i could pay back in 8-10 months MAX. Insane??

I want this money, because my next move WAS to use my cash and the $100K to buy another opportunity property in CASH as another rental.  But I cant get the darn loan. 

need advice!!!!    Shall i consider hard money lenders - (will they be reasonable?) OR do i just have to swallow the pill and wait it out and have to pay full cash until this BLACK mark is removed?

[Russell Brazil]

It sucks, but look at it from the investors point of view on the other side. You are asking someone to borrow their money. They can look at your credit report and see that you borrowed somebodys money before and defaulted on that loan. I dont personally lend money to people who have defaulted, I dont rent to tenants who have been evicted. In a little over a year it sounds like you will get a clean slate at least.