Short Term Hard Money Loan

[Teri Elmendorf]

I will make this as short as possible. 

My fiance and I have been paying for my grandmother's home in Encino, CA for quite a while now, he the last 2 years, and I have been paying down her mortgage since 2008. As of right now, her home is worth $1.7 million and her loan balance is $180,000. She is getting older and had a stroke 2 years ago. Since we have been paying for and maintaining her home, and no one else in my family can afford the home, we have actually been asked to purchase it by my family. With my credit and also a situation I am going through with my home in Las Vegas, which I have already been getting help with through this forum, my fiance is the one buying the home and getting the loan. He has an excellent credit rating and a great steady income. The problem we ran into is the gift of equity is only available to family and that is what we were planning on using for the down payment. We are not getting married until 9/13/15 and like I said, with my situation, I am not going to be on this loan until I get my mess straightened out. 

The down payment for the loan is $127,000. Because we take care of my grandmother and the house, we are getting the difference of the $180,000 and the $508,000 purchase price back immediately after close so we would be paying the hard money back within 60 days. 

Are there any hard money lenders on here that might be interested, how much would the money cost us, OR does anyone have any better ideas? Between the two of us we have around $75K invested, but we would rather not touch that money unless absolutely necessary, because we would have to liquidate and overall it seems a hard money loan, depending on how much it costs us, would actually end up saving us money as opposed to cashing out our investments and then reinvesting in 60 days. 

I would love to hear thoughts from seasoned investors and any lenders. If you need anything clarified please ask. Thanks.