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Updated about 11 years ago on . Most recent reply

User Stats

26
Posts
13
Votes
David Weis
  • Rehabber
  • Lutz, FL
13
Votes |
26
Posts

Need to refinance house with 9 liens

David Weis
  • Rehabber
  • Lutz, FL
Posted

I have a house with 1 hard money loan and 8 private investors. I know this seems like a lot but the private investors invested very low amounts of money ($5K - $15K). The house was appraised at $310K recently, I have had it for a year and I am looking to get $268K out of it to pay my private investors and hard money back. That's 86% LTV so it may not work.

Alternatively, I would like to get $147K to pay back by private money and keep the hard money loan until the house sells.

Any advice?

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