All Forum Posts by: Christopher Eduardo

I'm looking for a private lender. 100k to help float the expenses of our primary home we are living in that we invested in to sell after we meet the 2 year occupancy which will be the end of this year. We have all our funds tied up into this home so looking for a some funding to help us until we can list it and sell it.

House is located in Lake Nona/St. Cloud border line area. Fully custom home 3100 sq ft sitting on over 2 acres of land. Value at 1.3-1.5m. We're all in at around 850k.

Please let me know if you interested and we can discuss. Thanks

 Awesome. Please send me a dm and we can chat about it. Thanks 

 Yeah, we have done everything we can already to try to make it work but we just don't want to get too close to being at risk since we only have about 3 months left of reserve. So just starting to look for a backup plan now before its too late...

 I'm in Orlando, FL. 

Thanks for the reply. I think trying to get a hard money loan or a private loan would be my best option. Just trying to find someone willing to help out in this situation. We should have no problem paying it back once we sell our house. Any recommendations?

We have our primary residence that is a custom home we built here in the Lake Nona / Saint Cloud area. It is valued at about 1.3-1.5m and we are in at about 850k all in on it. We had plans to wait it out until the end of this year so we can meet the 2 year exemption. We are finding it difficult to make it until the end of the year before we list it. Just wondering if there's an investor out there to loan us the money we need to fund it until the end of the year and then list it then. 

If you are interested, I'd love to discuss.

Our current home was an investment property that we live in as our primary home. We have until October this year to meet the 2 year exemption. At the same time, I am currently in BK Chapter 13 repayment plan until November this year. We are doing everything we can to hold off until then but with the increase in taxes, insurance, and debt; it's really getting difficult to be able to wait it out. Each month, we are draining our reserves and we have about a little over 3 months left of reserve money. 

Do you guys have any other ideas on how to get through this without having to sell now specially when its only a few months away to end of year? Really hate to give up a good amount of the proceeds to taxes and worst yet, have to pay off the BK debt in full with only a few months left before completion. At the same time, we don't want to get into financial trouble.

Current property is in the nicer part of the city where there's lots of growth. Value of the house is 1.3 to 1.5 mil. We are all in the house at 850k. Custom home built in 2022 with 2.24 acres of land. 

 When you say pay off the plan early, do you mean pay off the remaining payment plan balance or the whole debt amount before the settled to be paid amount? The proceeds from the house sale should be able to cover the whole original debt amount. Just trying to figure out which amount is actually going to have to be repaid so they can decide if its worth doing or not for them since the completion of the case is so close. Thanks

If a seller decides to sell their property with possible capital gains due to their equity while still in chapter 13 repayment plan, how does it affect the proceeds? They are scheduled to have their last payment Nov this year. Anyone know how this works. I been researching online but haven't found a clear answer to this. 

I know they must have the sale approved by court first. Then they will have to pay off the plan early with the proceeds. The question is, do they pay what's left of their repayment plan? or the whole amount of debt they owe originally before the plan? What happens to the rest?

Thanks guys.