Building a STR compound in Blairsville GA: Getting stuck on financing

[Elizabeth Marcelline]

So,

I have a 10-acre property in Blairsville that I bought to do a rehab on the existing home and build two modern ADUs to create a STR compound. The problem is the rehab is way more work than anticipated (termite damage forced us to take the home down to the foundation). Now the bank is trying to push me to refinance into a new construction loan to complete the project. But since there is no longer a house they want me to pay an additional $120,000 skin in the game! I would love advice on what to do. Some have suggested I sell. Since I paid a large down payment and have not taken a lot out of my draws my mortgage is very small. Some say to find a better bank to refinance. Some say to convince my current bank to let me continue and just do the one home then reassess. Any advice would be welcomed. Or referrals to lenders that could help!