u/Soggy_Finding4141

I'm new here, appreciate you reading. I bought the building 8 years ago, It's now worth 3 million, I owe 1.7 million on my current mortgage. My mortgage is about to mature in 30 days, meaning I have to either refinance or pay it off.

Normally, I'd go to a bank to refinance. But there's a problem, several tenants recently moved out. My occupancy dropped from 95% to 60% Because the building isn't generating enough income, the bank declines my refinance application.

If I do nothing. The current lender could foreclose. I'd lose a building with millions of dollars in equity.

EDIT: Problem was solved using deep internet, loan received, no need to text me with offers, thank you.

Use of funds	Amount
Pay off urgent debt that is due	$400,000
Repair vacant units and common areas	~$200,000
Cover operating expenses and interest reserves	~$100,000
Total	$700,000