All Forum Posts by: Sean Blomquist

That is worst case scenario and most reputable HML don't want the property back. If it does go south, then you either give the property back (deed in lieu) or it will go through the foreclosure process.

If you own it free and clear as a rental, a Hard Money Lender should be able to give you the funds to rehab it. Once the rehab is done, just refinance with a traditional lender to pay the HML back.

If it is your personal residence, a HML won't be able to lend on it. Then you would just do a HELOC.

@Deepak Ganapathy shoot me an email and I'll send you some info on meetups.

@John Ludwig I'd be happy to send you some information about our Milwaukee abilities.  Shoot me an email and I'll send right away.

@Derrell Grant I've not heard of those.  Sounds like owner occupied, but like I said I'm not familiar with them.

@Derrell Grant a 203K loan is for an owner occupied rehab.  You need to live there as your personal residence.

A hard money loan is not for owner occupied, that is strictly for investment property.

@Josh Cook probably.  Not sure of exactly when, but you can also go to our YouTube channel to watch a similar webinar of this class.  Keep an eye out on here or our Meetup group to find the next time it will be done.

@Todd Wilson sounds good.  See you there.

@TJ Sinn shoot me an email directly and I'll send you the link to some free classes coming up in January that might help you out as well.

Good luck and let me know how I can help!

@Gabe Fasbender I would still come.  You can talk with Kim to see what options you have and get a baseline for where you need to be to get the refinance done.