Need private lender or miracle. Any suggestions?

[Peter Douglass]

My situation is a giant catch 22. I borrowed a private loan to purchase my property almost 2 years ago, gutted it, fixed it up slowly, and was ready to refinance this Spring. Unfortunately during this time, I also maxed out my credit cards to cover expenses related to the rehab (stupid, I know). My mortgage broker was convinced we could get a FHA locked in, and the debt taken care of at closing with the cashout. I just learned that FHA dropped the loan because of the underwriting, and because of a couple of defaults I had earlier this year, which obviously reflected quite badly for my application. Not to mention my credit score obviously took a toll because of the high utilization. My broker's suggestion is to get the credit card debt taken care of and go conventional, but I don't have cash lying around to do that. Meanwhile, I'm stuck paying crazy interest still on my private loan and I still haven't paid it back, even though we're coming up on two years. No one I've talked to is willing to do such a small, private loan for a three month term, and I'm wondering if that would show up when applying for a mortgage. I feel like I'm stuck. Any suggestions? I'm open to all.

I've considered just selling the house and calling it done, but I'd rather not as this is my primary and not an investment property and there's just other headaches involved with that. 

Thanks!

[Matthew Crivelli]

Defaults and revolving credit maxed out? If you do find a private lender willing to refinance this property it will only be because they plan on taking the property from you after you pay them closing costs and default. Get your head out of the clouds and sell the place ASAP. You are in no position to refinance this property. Not trying to offend just trying to get you to wake up my guy. @Peter Douglass