too good of a deal? hard money

[Terry Sutherland]

I didn't realize there was a such thing as too good of a deal , until I contacted a hard money lender , and a credit union . Basically I found a great deal. House valued at 120,000 (tax assessment) .The home is a 3/2. 1964sqft.  Fully remodeled new cabinets, countertops. Fresh paint beautiful hardwood floors, Vinyl siding etc. Price has dropped several times by 10 to 15,000 . It is now only 25,000. Problem is can't get a hard money loan or conventional loan from credit union. Hard money man says is too low, something must be wrong with it.  I said no , he says not interested.  Credit union says it's not enough of a loan amount to do. Has anyone had this problem with getting funded on a great deal? Am I missing something? 

[Jay Hinrichs]

@Terry Sutherland   I love it.. here you are you can't buy it you know it will gone and its probably a smoking deal at 40k but you don't want to pay more than 5k ... cracks me up...