Refinancing a seller-financed property and can't meet deadline

[Heryn Donald]

I have run into a snag trying to refi my personal home and it is delaying the close until after the Maturity deadline. The owner is threatening foreclosure if we do not close on time. I need a 60 day cushion but I do not want foreclosure. What can I do?

[Chris Mason]

In Texas? Get a 2nd opinion from @Andrew Postell.

Lurkers: When you have a deadline coming up on a hard money loan, always start the process a few months earlier than you think you need to. Refinances have higher instances of getting jammed up than purchase mortgages, mostly due to self selection bias (a typical FTHB has spent a year making all their financials and credit pretty, when folks refinance they are their 'normal' selves).