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Updated about 2 years ago on . Most recent reply

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Leisy Bartumeut
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Financing options to finish a half renovated home in brooklyn NY

Leisy Bartumeut
Posted

I own a home in williamsburg NY that needs about $700K to finish a renovation.  Long story short had contractors did a bad job (we're in a lawsuit) and now considering selling the home (halfway through renovations - would need to sell to investor at discount) or figure out financing to finish it.  I've tried a home equity line but banks don't want to lend since it's still halfway through construction.  What would be other financing options I could try?  

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Leisy Bartumeut
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Leisy Bartumeut
Replied

Hi Eric - There is a first mortgage on the property already (has equity but hard to tap given renovations)

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