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Updated over 9 years ago on . Most recent reply

User Stats

32
Posts
15
Votes
Chris Wallace
  • Lender
  • Washington, DC
15
Votes |
32
Posts

Need HELP!!! Over budget and running out of money!!!!

Chris Wallace
  • Lender
  • Washington, DC
Posted

Due to significant structural issues, my renovation is over budget and I'm running out of funds. What was a bathroom and kitchen job turned into a major reframing. I need another $25k to complete the project, and I have already been declined by Lightstream and my credit union any advice on what to do? 

Most Popular Reply

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42,810
Posts
63,099
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,099
Votes |
42,810
Posts
Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

they are worried about subs not being paid and mechanic's liens showing up after the fact.  this is why we never touch half done houses. to much risk on the lenders side with unknowns.. but if its free and clear yoiu should find someone... Its those that have no equity that really have a problem

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JLH Capital Partners

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