Situation:

Asset Based Lending recently funded a cash out and rehab hard money loan in Philadelphia PA for a US Veteran who purchased the property cash in 2004. The subject property is a 926 square foot single family home in need of $60,000 worth of renovations. The scope of work for rehab includes new exterior finishing, repairing a leak in the roof, gutting the kitchen and bathrooms, installing new HVAC and plumbing, as well as adding a bedroom.