Financing Issues: Getting out of HM on BRRRR
We JUST finished a BRRR and are ready to refinance out of hard money, and then COVID happened and now the product we were using is no longer available. Credit is around 640, plenty of income to support the refinance but due to seasoning a traditional lender will not lend to us.
Is anyone else dealing with this? Found any solutions?
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Jay Hinrichs
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Jay Hinrichs
#1 All Forums Contributor
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#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
this will be a very common issue for the next few months.. its dial for dollars time.
I would also be talking with the HML about extension and or lowering rate but keeping current.
they cant foreclose so it would be in their best interest to work with you through this trough
I would also be talking with the HML about extension and or lowering rate but keeping current.
they cant foreclose so it would be in their best interest to work with you through this trough
- Jay Hinrichs
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JLH Capital Partners