need to refi my hard money loan

hi everyone i have a hard money loan and need to refi with little credit and self employment income i have a buyer for the property but she seems to not be able to close on her loan. i signed the offer to purchase 4 months ago but her lender keeps coming up with something not to close, now my loan terms is up and need to refi fast any and all suggestions appreciated thanks


I had a house I sold a year ago that we placed the buyer with a new lender one week before closing because the original lender was not doing there job and failing to perform. 

You should never go 4 months to close a sale unless for some reason the buyer had actually originally requested a long escrow with say 4 or 6 months for closing? Go find a new lender and insist the buyer uses that new lender or your deal is done and your going on to a new buyer!

In the mean time your current hard money lender is in the business of lending money, renew that loan for an additional 6 months as it will cost you a lot more for closing costs, points and a transfer to a new lender!

Figure out the buyers problems so they can be overcome in one transaction instead of continuing to extend close of escrow with a non preforming lender / broker?


Are you still in need of the loan? Please advice.

Look for funding through someone you know who has a pension or IRA…make terms attractive and workable for you to repay.

I have funded hundreds of deals this way successfully.

Hope this helps.

Have you considered becoming the bank for your buyers? Owner finance them then you can either keep the payments, sell the note, full or partial. Then have the buyer refinance.