If the borrower is behind on their mortgage or taxes, these often have to be paid.

It may be possible, per the terms of the trust and at the discretion of the trustee(s) to be able to borrow from the trust itself, provided the trust has liquidate assets or it's equivalent.  

This is what he sent me today:QUALIFICATION 1.The Borrower must be at least 25 years old 2.With Bad credit, we still Guarantee the Borrower the Loan 3.The Loan Can Be Granted Even With No Collateral Present or available(Unsecured) 4.A business plan or Executive Summary is needed from the borrower to preview before the loan process.

Other than that I have some cash and a 401k to borrow from.

Mortgagees have a right to preserve the property and the borrower has a obligation to maintain the property.  

(Of course)How cheap is the money that you are borrowing to do these renovations?

I failed to mention that I think the likely ARV here is $115K to $120K.Our other option is to borrow against our homes which is probably the route we will go.  

If you can handle the risk, get an authorization to release information from the borrower and a specific power of attorney so you can call the lender and get pay off info when you need it.  

And then borrow books by authors such as Dave Ramsey or David Bach that go over how to get your finances under control.

That would be around 2.0% higher than a conforming conventional borrower at around 4.0%.