If you did this and either held it for a year (I️ believe that is the standard, but I️ would confirm with the banking institutions you want to go with), you could then refinance, pay off your land contract and pull cash out if appraisal came back higher.Your original thought process is correct in that a bank wants the 20% (I’ve seen closer to 25-30% on commercial loans until you build relationship) to protect themselves from fluctuations in value, but they also want skin in the game.Good luck,Roger

Originally posted by @Nicholas Baughman:I figured that.

Do you need to pay the interest in arrears as well as the original loan amount or just the original loan amount?

Originally posted by @John Thedford:@John S LewisThe honest way to approach the situation would be to find money first and then find the deal.

Originally posted by @Sung Park:Joe Papp thanks joe, as a follow up, how long do you think the redevelopment can continue up towards NE Philly?  

Originally posted by @Ethan Atkinson:Count me in.

Originally posted by @Gail Kaitschuck:Unless, of course,  you enjoy waiting for the guy to find employment (although I love his statement about waiting so he can "basically choose the best fit" (!)). 

Originally posted by @David Senter:Greetings forum goers! 

Originally posted by @Brian Pulaski:One of the home runs we al wish for!  

Originally posted by @Shaun D.