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Updated over 7 years ago,

User Stats

8
Posts
1
Votes
Jay Roque
  • Flipper
  • Round Lake, IL
1
Votes |
8
Posts

How do I get out of a hard money loan?

Jay Roque
  • Flipper
  • Round Lake, IL
Posted

The property that I rehabbed hasn't sold yet in which I had to extend the maturity date with my Hard Money Lender. The problem is that I have to pay an additional 1.5% monthly on top of the annual interest payment which costs a lot to pay for an extension of a loan. I know that banks will not refinance fix and flip loans. Are there any other types of loans or companies that I can refinance with? Your help is greatly appreciated.

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