The Reality
Your maturity date is their leverage.
My bridge lender called 45 days before maturity. "Market conditions have changed," they said. New appraisal required. More personal financials. New terms. Rate jumped from 9% to 12.5%—and the extension fees were outrageous.
With 45 days on the clock and $400K in equity on the line, what was I supposed to do?
Every 12 months, you're back at square one—scrambling, requalifying, paying new fees. The extension fees. The lender leverage. The requalification demands. You own the asset. You built the equity. But the lender controls your fate.
There's a permanent exit.