Hard Money Lending

[Alfredo Alfaro]

Hello,

My partner and I have a property and we are coming to the end of of our expiration of 6 months. The property is already listed and on the market but might not make it to the closing table 

I know it’s not common but do some hard money lenders sometimes buy out the other hard money lenders to give the person more time to sell? 

Current HML isn't the greatest and is only offering 1 month extension at most.

Thank you in advance. 

[Erik Estrada]

Quote from @Alfredo Alfaro:

Hello,

My partner and I have a property and we are coming to the end of of our expiration of 6 months. The property is already listed and on the market but might not make it to the closing table 

I know it’s not common but do some hard money lenders sometimes buy out the other hard money lenders to give the person more time to sell? 

Current HML isn't the greatest and is only offering 1 month extension at most.

Thank you in advance. 

 Hey Alfredo, 

This is actually fairly common. This is known as a bridge loan. The term is for 12-24 months and can finance up to 80% LTV.