ISO: PRIVATE/HARD MONEY LENDER OR OPTIONS!
My husband and I were looking to purchase a home that has gone under auction unexpectedly. I have until June 14th when the auction ENDS to place a bid. I have never purchased at an auction before... and was unprepared when it went up for auction because no one was placing an offer on the house. (It was a foreclosure)
My husband and I were planning on buying the home under a private lender that we have been working with, with a FHA 203k loan, we just needed to get my husbands credit score up a little higher to get pre approved for the loan amount.
Now that we are under a time restraint, we are looking for any ideas about how to finance and secure the asset. Private money lenders?? Hard money lenders?? (Not really in favor)
I am set on this house! I plan to still refinance whatever strategy I use to buy the home when with a FHA 203k loan... Does this sound logical?? Any advice or suggestions??