Hard money problems!

[John Kane]

Hello all. I have a complicated property that is in the middle of rehab. It is over budget and way behind on schedule. Most of the delay has been due to zoning issues. I have a hard money loan on the property and am fine making the monthly payments. The problem is that its a 12 month loan. I am in the 11th month now. The property will be a huge cash flowing duplex in a great area in Philadelphia. I want to refinance the property and keep it probably forever.  My lender is really beating me up to extend the loan for an additional three months. I would really like to learn what other options I have. The utilities will be done on the property in two weeks then drywalled shortly after, so the current condition of the property really limits my options. I have heard of bridge loans but am not 100% sure on how they work. Or if its possible to get one after having a hard money loan already. Thanks for any info!