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Updated almost 8 years ago,
Need advice on current rehab project with hard money lender.
I have a situation with my current hard money lender that is slowing my progress on my projects causing me to pay more interest only payments than expected. One of the biggest issues I have with the lender is that they are slow to inspect and when they do they only release about 40% of the draw which causes me to have to front more money for the project than I was expecting. The entire process has slowed my progression on the projects and I wanted to get advice on if it is possible to switch lenders when your almost halfway through a rehab and if anyone has ever done it, Thanks!