The dog is friendly when they are around but when we entered the house without them in the past he snarled and showed teeth.

Time sensitive. 

However, if you are new at this these are allows good to cut your teeth on.  

., and later, submit for plans.Once the plans are far enough along to know what you can actually do, have a basic design, then you will have the information to do a cost breakdown, which a construction lender is going to want to see, and for your own benefit of knowing the development costs.Our company is able to do most of that in house, within a week or less most times, and allows us to know quickly if we should move forward or walk away.However; without experience in development, it may be a complicated project to cut your teeth on.

Trying to get him to sell was like pulling teeth.

If it forecloses the HELOC gets squat as if your lucky there will be enough to pay off the first if that.If they work with you they get a payoff to release the lien interest as a short sale.The key will be what the first mortgage will or will not do and what they will allow junior lien holders to get as a payoff in a short sale.Typically they offer junior lien holders 1,000 and then the juniors want 30 cents on the dollar.It is a negotiating process of back and forth.If you are in a fast foreclosure state a first isn't going to give juniors a large chunk of the purchase price when they can foreclose and get almost the full balance owed to them.Ideal situation would be for HELOC to accpet 10 to 20 cents on the dollar and write the rest off.Before signing anything make sure the HELOC is not just releasing the lien interest for 20k but forgiving the rest of the debt in writing as well.Do not believe anything that is not in writing.I have seen banks lie through their teeth before saying they would not pursue a seller after a short sale for a deficiency and the letter was to come from another department higher up.They closed and the letter never came.

I REALLY am sensitive to the fact that a partner is an equity holder...you can't fire them.

Cut your negotiation teeth on this, it's all a great learning experience and all it costs you is a nice lunch.

Georgia law apparently has only a $500 penalty, which doesn't have much teeth and means nothing to a large bank.I am not sure if they closed the line.

You can also do sensitivity analysis using spreadsheets to determine safety margins and how variables influence profitability.