Minnesota Hard Money Deal - Close

760

None

Minnesota

I currently owe 193,000. It will cost me another 147,000 to finish the home. We plan on living in the home. When I say lawsuit it’s due to we had a house fire and hired a contractor. That contractor has about half of our insurance money. None of their work passed inspections nor engineering inspection. We are in lawsuit with them to recover the funds. So I didn’t know how to ask for funding that is why I submitted two of them. Because once the home is finished which is 55% completed by new contractor and they will not finish until they get paid the second payment we will be refinancing back with traditional lender. Traditional lenders aren’t financing due to unfinished collateral. The project would take no more than 6 months to finish.