All Forum Posts by: Nikki M.

@Steve Vaughan 

@Account Closed

Please excuse me, I just figured out how to highlight the names. 

thank you to all of you who gave a response.  I really appreciate it. 

I really don't know how to proceed, but I'm going to figure out some way.  

@Jay Hinrichs if I get money from friends and family, do you think it would make more sense to use that to pay off my charge offs? Then maybe I could qualify for the va or tx vlb military loan? Also, what is transactional funding?

@steve Vaughan thank you for your response.  I appreciate your honesty.  We did finish the duplex first, both units are rented out.  It's just not enough to finish up everything.

We did an addition to the single family home and we are doing higher end finishes, so the cost for everything is like triple and we looked up one day and realized we had didn't have enough to finish.

Right now, we owe 58k on the house,  we had an appraisal done recently.  It came back at 310. 

What options do I have?

I just really need to get some information about the hard money loan, like how it works, etc?

Like could I use hard money loan to pay off my charge off to boost my credit then I could possibly refinance? 

hello,  

I am new to this site.  I am disabled vet from United States marine corps.  My husband and I purchased a fixed upper in midtown houston.  The property has a duplex and single family home on the lot, so it's like we had to rehab two houses.  We have completed most of the renovations with our own money.  We made a lot of mistakes and ran into a lot of issues along the way, We have now run out of money.  We need about  20k to finish up.  I tried going through the texas vlb and va. I have a mid 600 credit score, but have a few charge offs that are 6 yrs old,  so I was denied.  At this point, we are looking to maybe get a hard money loan, finish the rehab, improve credit and refi through va.  I am not familiar with this process at all. Can anyone offer any assistance as to how to proceed? Please.

Thank you