They can provide guidance on potential legal options and rights concerning the city’s demands and the lender.Negotiate with the City:Seek Extensions or Variances: Your friend can request an extension on the deadline to comply or apply for variances that might allow the property to meet less stringent requirements.Explore Grants or Subsidies: Check if there are any local, state, or federal grants or subsidies available for renovating older properties, especially those providing low-income housing.Engage with the Lender:Discuss Financial Hardship: Present the case to the lender, explaining the situation and the financial hardship imposed by the new building codes.Propose a Loan Modification: Suggest modifying the loan terms, such as extending the loan period, reducing interest rates, or even deferring payments temporarily.Negotiate a Short Sale: If the property must be demolished and rebuilt, your friend can discuss the possibility of a short sale where the lender agrees to accept less than the owed amount to avoid foreclosure.Explore Refinance or New Loans:Seek New Financing Options: Look for other financial institutions or private lenders willing to provide financing for renovation or rebuilding.

I bought the house about a year ago and the only thing noted in the inspection report was the need for extended downspouts.

I have a client of 15 years who runs a route selling business for 40 years. Just today he asked if I knew of anyone who does business lending. He' looking to borrow $30,000 for 6 months at 25% to 30%. (he said he's ok...

But in any instance, negotiate an option to extend the maturity date.

For example I once had a loan due and the refinancing took longer than the bank expected and luckily the seller agreed to extend one month.

Here are a few strategies to consider moving forward:1.Consider Existing Properties:Since new construction timelines are extended, you might explore purchasing an existing property that you can renovate to include a Next Gen suite.

I have seen it extended with an LOE - letter of explanation as well.Make sure that you have all of the information on the renters like contact info, length of time renting units, pets, and on the walk through make sure the units are well kept if you plan on keeping renters.

I take great pride in my work, combining quality craftsmanship with innovative design to create kitchens that truly stand out.While I am deeply committed to [Your Company Name], my passion for real estate extends beyond just one room.

The Graham Leach Act defines its scope to extend to protection to individuals as opposed to "financial institutions." 

Know your key dates of everything, contingencies, options to such, and strategize for getting any amendments to extend if need be.